Iran’s Minister: Domestic producers ensure major portion of equipment for oil industry

Oil&Gas Materials 23 October 2012 14:48 (UTC +04:00)

Azerbaijan, Baku, Oct.23 /Trend G.Mehdi/

A major portion of the equipment required for the Iranian oil industry is ensured by domestic producers, the Fars News Agency quoted Iranian Oil Minister Rostam Qasemi as saying.

"There is no specific problem in developing the South Pars gas field," he said, adding that more financial support will accelerate the pace of development.

Sanctions have persuaded the Oil Ministry to take advantage of the domestic expertise in development projects, he noted.

Global sanctions against Iran not only do not have any hindering effect on the country's oil industry, but also have turned the Islamic republic into an exporter of equipment and goods, Qasemi said in May.

"Despite all threats of the enemies, there is no concern regarding development of the oil industry relying on expertise and knowledge of Iranian scientists," he said, the IRNA News Agency reported.

Qasemi said that the country is approaching "total self-sufficiency" in the production of equipment required in the country's oil industry.

Iran plans to become self-sufficient in producing 19 highly used goods which are strategic in the oil industry, deputy oil minister for technology Mohammad-Reza Moqaddam said in July.

Mohammad-Reza Moqaddam added that according to Oil Minister Rostam Qasemi's order, technologies for manufacturing around 19 oil goods should be indigenized by the end of the fifth five-year development plan (March 2016).

The South Pars gas field is shared by Iran and Qatar. The Iranian share, which is divided into 29 phases, has about 14 trillion cubic meters of gas, or about eight percent of total world reserves, and more than 18 billion barrels of liquefied natural gas.