Iran's oil industry working to attract start-up companies to develop oilfields

Tehran, Iran, Oct.19

Trend:

Iran's oil ministry is planning to improve production at 20 of its oil and gas fields, deputy oil minister for engineering, research and technology affairs Saeed Mohammadzadeh told Trend.

"Technology development of upstream includes improving production and increasing production in 20 oil and gas fields that includes 52 reservoirs with cooperation with 9 university and research centers as the priority for the oil ministry engineering and technology management," he said.

"Our major issue is to clarify the connection with start-ups on this matter. The start-ups should be connected to the industry and help develop it," he said.

"Any work for development of the industry is welcomed. In terms of oil industry equipment, the minister has banned the equipment imports, so we're following up in cooperation with the local companies," Mohammadzadeh said.

The official said that based on the oil ministry's plan, Shahr-e-Ray technological park would help with the development of innovations in the oil industry, as well as help create start-up companies.