Baku, Azerbaijan, May 1
By Farhad Daneshvar – Trend:
Iranian petroleum industry equipment manufacturers have been granted multi-million euro deals to make the country’s required oil equipment, a manufacturer says.
Reza Khayamian, the head of Society of Iranian Petroleum Industry Equipment Manufacturers, says the manufacturers in total have inked worth of 166.3 million euro deals, IRNA news agency reported.
Addressing a press conference on May 1, the official added that another deal worth of 250 million euros is expected to be concluded soon.
Saying that the country needs to invest about $120 billion in making oil equipment, he added that Iranian manufacturers are capable of providing half of the required equipment.
Iran in order to boost its oil, gas and petrochemicals output by 2021 has drawn up a plan to launch dozens of projects valued at $185 billion.