BAKU, Azerbaijan, May 16. The National Iranian Oil Company (NIOC) and the Iranian Oil Turbo Compressor Construction Company will soon sign a contract on the domestic production of 14 new turbo-compressors, Director of Iran’s Oil and Gas Industry Innovation and Technology Park Esmaeil Kefayati told reporters, Trend reports citing Shana News Agency.
He made the remark at the 26th International Oil, Gas, Refining and Petrochemical Exhibition in Tehran on May 16, 2022.
According to Kefayati, Iran's Oil Turbo Compressor Construction Company has announced its readiness to manufacture domestic compressors to increase pressure on platforms in the South Pars gas field.
“In addition, a contract will be signed with the country's startup companies to resume extraction from some Iranian oil and gas wells. At present, $750 million is needed to resume extraction from the wells. Russian companies have expressed interest,” he added.
The director also noted that investors from Qatar, Russia and China are also interested in investing in Iran’s Oil and Gas Industry Innovation and Technology Park.
On May 14, 2022, the 26th International Oil, Gas, Refining and Petrochemical Exhibition opened in Tehran and will end on May 16.
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