Iran can cooperate with foreign companies – oil minister
BAKU, Azerbaijan, Jan. 11
By Elnur Baghishov – Trend:
If foreign companies intend to cooperate with Iran in the oil and gas sector, Iran can cooperate with these companies, Iranian Oil Minister Bijan Zanganeh said, Trend reports citing Shana news agency.
He made the remark in an event dedicated to the signing of contracts to maintain and increase oil extraction.
Zanganeh noted that at the same time, Iran will continue its achievements in the oil and gas sector.
The minister added that the contracts related to increase and maintain oil extraction have been signed with Iranian contractor companies.
"On the basis of contracts, domestically produced equipment will be used. At present, about 72 percent of the equipment in Iran is produced domestically,” he said.
Zanganeh stressed that these contracts are signed during the most severe period of US sanctions against Iran.
Today on January 11, eight contracts were signed in Iran to maintain and increase oil extraction. According to the contracts, $1.21 billion will be spent and oil extraction will increase by 92,600 barrels per day.