...

Iran 90% self-sufficient in developing oil and gas fields

Oil&Gas Materials 19 February 2012 15:02 (UTC +04:00)

Azerbaijan, Baku, Feb. 19/ Trend F.Milad/

Iran is currently self-sufficient by 90 percent in meeting requirements for developing oil and gas fields and will become fully independent by the next two years, the managing director of the National Iranian Oil Company (NIOC) said.

The ten percent dependence is related to high-tech parts which are not imported as a result of the international economic sanctions against the Islamic Republic, Ahmad Qalebani told ILNA news agency, adding that the country will domestically make the parts relying on the Iranian expertise.

Meanwhile, the National Petrochemical Company (NPC) managing director said in January that up to 25 percent of parts which are used in Iran's oil industry are domestically-made.

Abdolhossein Bayat told ISNA news agency that 15-16 percent of the equipments are completely manufactured inside the country and if the separated parts are also taken into account, the figure would rise to 25 percent.

Oil Minister Rostam Qasemi said in August 2011 that the oil industry's infrastructure needs more than 500 trillion rials (about $41 billion) of investment to achieve goals of the national 20-Year Economic Outlook Plan, which ends on 2025.

Tags:
Latest

Latest