TEHRAN, Iran, Aug. 24
Trend:
The overhaul of three American Lincoln engine welding machines by Iranian experts in Bahregan Oil Field resulted in $21,000 of savings.
Iranian Offshore Oil Company (IOOC) announced that the major repairs of these devices were carried out by Iranian experts relying on domestic technical ability and in order to save money, Trend reports citing ILNA.
Each of the mentioned devices of this model in the US market costs $7,000 so that the repairing of them resulted in a total savings of $21,000.
Iran's crude oil exports and production have declined since the United States announced in May 2018 that it would withdraw from the Joint Comprehensive Plan of Action (JCPOA) and reinstate sanctions on Iran’s oil exports. Crude oil production held steady at around 2.6 million b/d during the first few months of 2019 when the United States government granted sanction waivers for some of Iran’s key oil-importing countries. However, after these waivers expired in May 2019, output fell to about 2.1 million b/d.