Oil official: Iran to become second drilling parts manufacturer after U.S.

Azerbaijan, Baku, July 14/Trend M. Moezzi

The National Iranian South Oilfields Company's (NISOC) managing director, Hormoz Qalavand, said Iran will soon produce oil drilling parts that only the United States has manufactured until now.

The 5, 10 and 15 millimeter rings used for drilling deep oil wells will be available for export too, Qalavand said, the Young Journalists' Club website reported.

Until now, only the U.S. produced the rings which are among the pieces needed most for drilling operations. The NISOC's chief said exporting the parts will be a good source of foreign currency for Iran.

The West has embargoed Iran's oil industry and its Central Bank. The U.S. is pressuring other countries to stop doing business with Tehran. The sanctions also affect spare parts and equipment necessary for Iran's oil industry.

The European Union stopped its oil purchases from Iran on July 1.

The measures are part of an effort to make Iran answer questions about its nuclear program which it says is peaceful and civilian in nature while the U.S. and its allies contend it is not.