BAKU, Azerbaijan, May 8. Iran has turned from an importer to an exporter of technical services and engineering developments in the oil sector since the beginning of the current Iranian government (the current Iranian government has been in power since August 2021), executive director of the National Iranian Petroleum Engineering and Construction Company, Farhad Ahmadi said, Trend reports.
He made the statement during the 23rd International Exhibition of Oil, Gas, Refining, and Petrochemicals, which started on May 8.
According to him, it demonstrates that Iran is taking serious steps in this field.
Ahmadi noted that, under the current government, Iran's National Petroleum Engineering and Construction Company is reconstructing the El Palito refinery in Venezuela. The renovation work at this refinery is currently 90 percent complete. Iranian engineers are involved in the renovation of this refinery, and 2 million pieces of equipment and instruments have been exported.
The official stated that the company is engaged in the design, construction, and commissioning of pipelines for refineries, oil export platforms, and others.
Meanwhile, El Palito is a small refinery in Venezuela. This refinery has the potential to produce 140,000 barrels of crude oil per day. An agreement between Iran and Venezuela was signed last May (2022) to overhaul the El Palito refinery and fully utilize its potential. It was reported that 50 percent of the refining capacity of this refinery was utilized before the Iranian side started the overhaul. Under the agreement, the value of the contract signed between Iran and Venezuela is 110 million euros.
To note, the 4-day 23rd International Exhibition of Oil, Gas, Refining, and Petrochemicals kicked off in Tehran on May 8. The exhibition is attended by 1,700 local companies and 250 foreign companies.
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