Azerbaijan, Baku, Feb. 6 / Trend F.Milad/
Iranian Oil Minister Rostam Qasemi has issued a decree to stop obtaining foreign licenses for domestic petrochemical projects, Mehr news agency reported.
The minister ordered the National Iranian Oil Production and Distribution Company to benefit from Iranian expertise and indigenized technologies to implement petrochemical plans.
According to Mehr, two French companies, two British companies and a British-Dutch company have neglected their obligations in their contracts with Iran.
About 25 percent of parts, which are used in Iran's oil industry, are domestically-made, the National Petrochemical Company (NPC) managing director said on Jan. 17.
Abdolhossein Bayat told ISNA news agency that 15-16 percent of the equipments are completely manufactured inside the country and if the separated parts are also taken into account, the figure would rise to 25 percent.
Oil Minister Rostam Qasemi said in August 2011 that the oil industry's infrastructure needs more than 500 trillion rials (about $50 billion) of investment to achieve Iran's 20-year economic perspective plan goals.
"By late the fifth development plan (2015), the country's oil production should increase to 5.2 million barrels per day (bpd) and this should happen from the country's joint fields," ISNA news agency quoted Qasemi as saying.