Oil industry accounts for 70% export portfolio

TEHRAN, Jun. 25 (MNA) – Deputy Oil Minister for Research and Technology Affairs Eng. Habibollah Bitaraf said that oil industry accounts for 70 share in export portfolio of the country.

Physical Assets Management Manual of the oil industry compiled and notified in 2014, so that manual of its national standards is on the agenda, he opined.

Speaking in the 1st International conference on Integrated Management of Physical Assets of Oil and Gas Industry in Onshore and Offshore Section, he said that integrated management of the assets in this industry can lead to the decrease of costs, increase of safety, productivity and consequently, optimal conservation of energy and sustainable interaction in the environment sector.

Not only integrated management should be exerted in the physical assets sector, but also it can be practiced in other capitals of the organization such as human capital and data-financial assets, he observed.

Management of physical asset of oil industry equipment especially in offshore section experiences more vulnerability, he said, adding, “huge value of these assets causes importance of repair and maintenance of these parts and equipment.”

He pointed to 70% share of products of this industry in exports sector and said, “benefiting from considerable volume of oil and gas reserves especially hydrocarbon resources cause importance of management of physical assets in this industry.”

MA/4330045

News Code 135108

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