Iran's SIPIEM director: Private sector can easily evade US sanctions

Business Materials 22 November 2018 16:06 (UTC +04:00)

Baku, Azerbaijan, Nov. 22

By Elnur Baghishov - Trend:

Tehran shouldn’t worry about Total and other foreign oil companies’ leaving Iran, because many skilled local companies are operating in the country, head of Society of Iranian Petroleum Industries Equipment Manufacturers (SIPIEM) Reza Khayyamian said.

He was speaking at the 10th Khuzestan Specialized Exhibition of Domestic Manufacturing of Petroleum and Drilling Industry Equipment, SNN news agency reported.

He said that instead of relying on major European companies, experience and technology exchange with small oil companies in Europe can be considered.

“Iranian private sector can easily evade US sanctions,” he noted.

He added that Iranian producers should build confidence in the oil and drilling industry and pay more attention to local production.