Iran able to manufacture over 85% of oil industry equipment

TEHRAN, Jan. 18 (MNA) – Secretary of Iranian Oil Industry Equipment Manufacturers Association said that more than 85 percent of oil industry parts and equipment are presently manufactured domestically by expert engineers.

Ali Panahi said on Monday and put the number of companies affiliated to the Iranian Oil Industry Equipment Manufacturers Association at 820.

Of the total 820 companies, 182 of which are knowledge-based companies, he said, adding, “These companies have totally generated 80,000 and 250,000 direct and indirect employments respectively.”

Given the high capability of these companies, the capacity of manufacturing oil industry equipment is estimated at €5 billion, he added.

He went on to say that 47 and 11 percent of these companies are based in Tehran and Khuzestan provinces respectively while the rest are in other provinces of the country.

Elsewhere in his remarks, Panahi pointed to the cooperation of the Association with Vice-Presidency for Science and Technology to organize knowledge-based companies active in this field and added, “With the coordination made in this regard, 100 other knowledge-based firms will take membership at the Association in the next year (to start Mar. 21) provided that the country would be able to contain the adverse effects of the novel coronavirus, COVID-19, which has created serious problems for economic activity of the country.”

Presently, more than 85 percent of parts and equipment needed in the oil, gas, refining and petrochemical industries are manufactured in the country, he reiterated.

Islamic Republic of Iran stands at the first place in the Middle East region in terms of manufacturing oil industry equipment, he said, adding, “Iran enjoys high capacity and potential to be turned into a regional hub in this respect.”

MA/IRN84189012

News Code 168682

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