Export of Oil, Gas Industry Equipment at $450m

Export of Oil, Gas Industry Equipment at $450mExport of Oil, Gas Industry Equipment at $450m

Iran exported more than $450 million worth of oil and gas equipment in the last Iranian calendar year (ended March 20), said a member of board of directors at the Society of Iranian Petroleum Industry Equipment Manufacturers (SATSA) on the sidelines of the 20th Iran Oil Show, Shana news agency reported Sunday.

Currently SATSA comprises 160 companies, all manufacturers of oil and gas industry equipment and active in construction of refineries, power plants, and petrochemical complexes, Massoud-Bagher Tajrishi said, adding that the exported equipment included transducer, turbines, pumps, and cooling systems.

Referring to regulations calling for utilization of domestic production, engineering, industrial, and administrative potentials, ratified by the Parliament in March 1997, Tajrishi said the law has not been implemented over the past years, and called on the authorities to establish a committee to supervise thorough implementation of the regulations.

"The National Development Fund of Iran (NDFI) and the Bank of Industry and Mine –the two bodies that fund major industrial projects – are expected to make use of domestic and foreign manufacturers equally," Tajrishi added.

Iran has achieved self-sufficiency in manufacturing of various types of equipment and machineries used in the oil and gas sectors.

Ten types of major oil equipment and machinery are manufactured by domestic companies, including line hangers, subsurface safety valves (SSSV) and mono bores, which are three essential parts required for drilling and extraction operations.

Domestic producers are now capable of manufacturing 70 percent of the equipment while only 30 percent of the industry’s spare parts and equipment are imported.

The 20th International Iran Oil, Gas, Refining and Petrochemical Exhibition started in the Tehran Permanent Fairground from May 6 to 9. Close to 1,200 domestic as well as 600 foreign firms participated in the Iran Oil Show 2015.