Oil Ministry takes steps to make Iran's economy knowledge based

Business Materials 27 January 2021 09:22 (UTC +04:00)
Oil Ministry takes steps to make Iran's economy knowledge based

BAKU, Azerbaijan, Jan. 27


Iran`s Ministry of Oil has taken an important step towards turning Iran's economy, knowledge-based, despite sever pressures in recent years, a member of the Iran Expediency Discernment Council said.

“We have many common oil and gas reservoirs with the neighboring countries of the region, which means boosting common dialogue,” Ali Aghamohammadi said, today (Tuesday, January 26) at the opening ceremony of the Sixth Strategic Congress of the Oil and Energy Exhibition, Trend reports citing SHANA.

"The pressures on the oil industry have been very high in recent years,” he said. “The policy of cooperating with the world and at the same time using the power of Iranian companies is the right solution."

He went on to say that the share of fossil fuels in 2050 will decrease from 81 percent to 71 percent and by 2070 will reach 25 percent, so the maximum time to use fossil fuels is 50 years. Aghamohammadi said that oil production does not only mean selling crude oil.

Establishing knowledge-based companies is the key solution, and the Ministry of Oil has taken important steps in this direction by creating Oil and Gas Technology Ray Park.