BAKU, Azerbaijan, Jan. 21
By Elnur Baghishov - Trend:
Iran may domestically provide 70 percent of equipment and technology in the oil sector, Secretary of the Iranian Petroleum Industries Equipment Manufacturers Association Mujtaba Eslami said.
“The equipment is acquired as a result of the startup companies' activities during the period of the US sanctions against Iran,” Eslami added, Trend reports referring to the Young Journalists Club (YJC).
“After the transformation of industrial companies into startups companies, they started production of the technological equipment,” the secretary said.
“Some 65-80 percent of the equipment worth $5 billion needed for the upstream and midstream sectors are provided in the petrochemical sector,” Eslami said. “However, there are some problems.”
“Under the with the sanctions, many companies and associations such as, for example, the Iranian Oil, Gas and Petrochemical Products Exporters' Union (Opex) have reduced their activity and are not implementing new projects,” Eslami said.
Regarding the export of the Iranian equipment which is used in the oil sector, the secretary said that there are a number of problems.
“Besides a license and all the required documents, a hologram is also required for the products in this sector,” the secretary added. “The association is trying to export equipment. If the infrastructure is created, it is possible to export equipment related to this industry."