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Iranian petroleum manufacturers seek to join int'l companies

Business Materials 2 May 2016 11:00 (UTC +04:00)

Baku, Azerbaijan, May 2

By Khalid Kazimov - Trend:

Society of Iranian Petroleum Industry Equipment Manufacturers (SIPIEM) seeks to join efforts with international companies.

Reza Khayamian, the head of the SIPIEM, said that a German delegation is expected in Iran to study opportunities for cooperation, Fars news agency reported.

During the visit, SIPIEM will discuss inking a deal for cooperation with German companies.

Khayamian further said that according to the Iran's sixth development plan, the country's oil industry needs an investment of $200 billion of which 60 percent will be spend on purchasing necessary equipment.

Society of Iranian Petroleum Industry Equipment Manufacturers (SIPIEM) is a private association in the oil industry supplying a part of the petroleum equipment in the country.

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