Speaking on the sidelines of the 16th Kish International Energy Exhibition, Majid Mohammadpour said that the share of Iranian manufacturers and industrialists in the supply of petroleum products and equipment has reached 85 percent, Shana reported.

He said technical knowhow of producing 65% of overwhelmingly used petroleum industry items has been developed domestically and we have adopted reverse engineering methods to localize another 20% of the items.

“Oil industry equipment manufacturers tap all their capacities and opportunities to tackle the sanctions and supply the goods needed for the country’s oil industry projects and facilities,” he added.

The 16th International Energy Exhibition, Iran’s second most important energy event, is currently underway on Kish Island off the southern coast of Iran in the Persian Gulf.

The exhibition, running through January 23, has gathered experts and those active in the Iranian oil industry with the participation of over 140 Iranian and foreign companies from China, Italy, Japan, the United Kingdom, the Netherlands, the United Arab Emirates, Russia, and South Korea, as well as associations and trade unions in the oil, gas, refining, petrochemical, electricity and energy sectors.