Energy
0

Petropars Producing 3 Types of Oil Equipment

Petropars Producing 3 Types of Oil EquipmentPetropars Producing 3 Types of Oil Equipment

Production has commenced inside the country of three out of ten types of important oil equipment, said the managing director of Petropars Ltd. (PPL), Shana reported.

Mohammad Javad Shams stated that Iranian manufacturers have successfully carried out the production of line hangers, subsurface safety valves (SSSV) and mono bores; three essential equipment for oil extraction.

Kish Well Completion Equipment Factory (KCT) in south Iran is ready to start the production of SSSV, he noted.

KCT was established by PPL in cooperation with a European partner at a cost of $7 million. The plant was built to enable domestic oil equipment manufacturing in the wake of increasing US sanctions against Iran in the past five years.

The US imposed broad economic sanctions on Iran in the wake the country's claim for nuclear power for peaceful purposes. Iran is negotiating with the P5+1 to strike a nuclear agreement.

Safety valves implemented in phases 17 and 18 of the South Pars field in the Persian Gulf were manufactured by PPL's foreign partner, but now domestic manufacturers will be able to mass produce this equipment.

Close to 150 gas wells need to be drilled in the South Pars field and PPL can manufacture the drilling equipment such as SSSV and wellheads.

Last week, Oil Minister, Bijan Namdar Zanganeh, established a new committee to pursue the production of the 10 major types of oil equipment.

Financialtribune.com