Two German companies ready to provide Iran with oil equipment

Business Materials 21 July 2015 16:11 (UTC +04:00)

Baku, Azerbaijan, July 21

By Fatih Karimov - Trend: Two German companies are ready to provide Iran with equipment used in oil terminals, managing director of Iran Oil Terminals Company Pirouz Moussavi said.

Siemens and Krone companies have announced readiness to participate in Iran's oil, gas, and energy projects and provide equipment for Iranian oil terminals, Iran 's Mehr news agency quoted Mousavi as saying July 21.

The two companies can supply Iran with equipment that is necessary for measuring crude oil and gas condensate, he added.

Iran's oil export capacity is estimated to be around 6 million barrels per day, Mousavi said, adding that renovation and reconstruction of oil export terminals in the Gulf and the Caspian Sea have been accelerated.

Earlier Iran 's Oil Minister Bijan Zanganeh said the Islamic Republic's return to global oil market would be gradual once international sanctions against the country are lifted.

"Immediately or one month after the sanctions are lifted, we will pump half a million barrels per day to the market and after six-seven months, we will reach one million barrels a day."

The country's current oil production is estimated to be around 2.7 million bpd.

Edited by CN