Tehran, Iran, Aug.31
Trend:
National Iranian Oil Company (NIOC) has 33 contracts to localize production of 10 oil commodities in the industry, and the project is completed by 70 percent, says the company report, Trend reports citing IRNA.
The 10-commodity group includes construction of well-head equipment, completion string, electrical submersible pumps, drills, control valve, various drilling pipes, safety equipment, explosion proof motors , turbines, compressors, alloy steel, measuring instruments and smart pigs that will be produced domestically, the company said.
Currently, 33 contracts in this field have been completed by 70 percent, and the progress in implementation of other 50 contracts is 49 percent.
According to NIOC, localization of the production of equipment in drilling industry has been launched since the start of current Iranian year (started March 21, 2019).
The National Iranian Oil Company and the Ministry of Industry, Mine and Trade cooperate to increase customs tariffs or ban the import of some items that are being produced locally. Other measures included registering domestically produced equipment, and ban of imports by contractors during EPC/EPD tender projects.