Iran’s oil equipment makers seek multi-billion deals in Iraq

Business Materials 1 May 2017 14:22 (UTC +04:00)

Baku, Azerbaijan, May 1

By Farhad Daneshvar – Trend:

Iranian petroleum industry equipment manufacturers appear to be interested in taking a 12-percent share of the oil-rich Iraq’s equipment market.

Reza Khayamian, the head of Society of Iranian Petroleum Industry Equipment Manufacturers, has said that Iraq’s petroleum equipment market values at $300 billion, IRNA news agency reported.

Iranian manufacturers are capable of providing worth of $36 billion of the required equipment in the neighboring country, he added.

He made the remarks at a press conference in Tehran on May 1.

Iran has clinched two agreements with Iraq to export 25 million cubic meters of gas per day to the Arab country’s refineries at the capital city of Baghdad and its border city of Basra.