Iran to ban 80 percent of oil equipment imports

Oil&Gas Materials 19 July 2011 11:46 (UTC +04:00)

Azerbaijan , Baku, July 19 /Trend/

Iran plans to build onshore drilling rigs and gas compressors, while it would ban importing 80 percent of oil industry equipment, Pananews reported quoting Deputy Oil Minister Hamdollah Mohammadnejad as saying.

"Currently more than 80 percent of oil equipment is built in Iran. We will have no need to buy from foreign countries by the end of the Fifth Development Plan (2010-2015)", he said.

Mohammadnejad noted that currently five domestic producers are working to build a drilling rig and other equipment.

The domestic drilling rigs are competitive with European samples and are more economically viable than Chinese drilling rigs.