Iranian Research Institute of Petroleum Industry (RIPI) has it on the agenda to conduct over six trillion rials (about $142.8 million) worth of research projects in various upstream areas, including exploration, drilling, production, and enhancing recovery factor of the fields, an official with the institute announced.
As one of the major pillars of the Iranian economy, the oil industry has been evolving continuously over the past four decades and with the world stepping into the new era of technological advances the Iranian oil industry too has been taking new steps in this regard.
Iranian Vice-President for Science and Technology Sorena Sattari has said that 80 percent of the products that are being produced for the first time in the country are related to the oil industry.
Iran’s oil have been struggling with internal and external sanctions for decades, and this pressure from both sides has impeded the industry to achieve its proper status.
Iranian Oil Industry Ventures (IOIV), a newly established semi-governmental entity that is helping startups active in oil industry, has signed four deals with domestic companies in order to support their activities in the current Iranian calendar year (started on March 21).
Iranian First Vice President said on Tuesday that the oil and gas sector has undergone the most pressure from the sanctions, adding that the oil and gas and petrochemical sectors are crucial for the economic development of the country.
An official with the Tehran Oil Refining Company said more than 90% of the company's refining parts and equipment are provided by domestic manufacturers.
The head of Khatam-al Anbiya Construction Headquarters said while Iran is under the most severe sanctions, it is getting ready to put the NGL project west of Karun in operation.
Iranian oil exports have risen sharply in September in defiance of US sanctions, three assessments based on tanker tracking showed.
The first phase of Iran’s key oil terminal in Jask region on the Sea of Oman will become operational by March 2021, said a project contractor on Tuesday.