Iran talks production of equipment in its oil sector

Oil&Gas Materials 30 March 2020 14:19 (UTC +04:00)
Iran talks production of equipment in its oil sector

BAKU, Azerbaijan, March 30

By Elnur Baghishov - Trend:

Currently, about 65 percent of the equipment needed in the oil sector in Iran is produced domestically, said Mujtaba Eslami Secretary of the Iranian Petroleum Industries Equipment Manufacturers Association, Trend reports citing Young Journalist Club (YJC).

According to Eslami, conditions have been created in the oil sector for domestic production of 20 percent of the demand with local technology at the same time.

"According to this, 85 percent of the equipment in the oil, gas and petrochemical sector can be produced domestically," he said.

Eslami went on to add that only some 15 percent the equipment has complexities in production, such as lack of raw materials, etc.

"The main problem is that 50 percent of the production potential is used. Since the contract between a customer and a manufacturer is signed in stages, it slows down the production. Eventually, this affects jobs since there are no new projects to work on," he said.