150 knowledge-based firms in oil equipment industries set up in sanctions period

TEHRAN, Nov. 18 (MNA) – Chairman of the Board of Directors of Iranian Association of Manufacturers of Oil Industry Equipment Sirous Talari said that a number of 150 knowledge-based companies were set up in sanctions period.

"Launching knowledge-based companies is one of the salient achievements of manufacturers of oil industry equipment during the sanctions period in a way that many of our companies have been turned into knowledge-based firms in this period," he told Mehr News Agency on Monday.

He put the current number of knowledge-based companies in the oil industry equipment at 150 firms, adding that many more firms have also applied for receiving the knowledge-based license.  

He further noted that knowledge-based firms could develop the capacity of technology and development in the sanctions period, adding, “currently, about 70 percent of the oil industry's requirement to equipment is met by the domestic companies and 20 percent of which is met using reverse engineering.”

He said that the implementation of executive bylaws of the ministries of Oil, Industry, Mine and Trade and Central Bank of Iran (CBI) is major problem facing the Association and called on responsible officials to reconsider and revise these regulations according to the laws.

MA/4774509

News Code 152396

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