TEHRAN (Iran News) Speaking at the opening ceremony of the 29th International Oil, Gas, Refining, and Petrochemical Exhibition in Tehran on Thursday, Paknejad outlined the ministry’s efforts to boost investment, streamline contracts, and support knowledge-based companies. The exhibition, which features over 2,200 companies from Iran and abroad, is held at Tehran’s permanent fairground complex.

“Despite intensified sanctions, Iran’s oil exports remain at their highest possible level,” Paknejad said. “But this is just the beginning—we aim to position Iran as a regional energy hub and center for cooperation.”

Highlighting the exhibition’s theme, “Investment in the Oil Industry: A Guarantee for Economic Growth and Development,” Paknejad said it reflects the country’s broader economic strategies and aligns with guidance from Supreme Leader Ayatollah Ali Khamenei.

The minister revealed that oil production has increased by 150,000 barrels per day, raw gas production by 30 million cubic meters per day, and the country’s refining capacity has grown by 180,000 barrels per day since the current government took office. Additionally, annual petrochemical output has increased by 7 million tons.

Among the key goals is the completion of over 30 major projects that will raise oil production capacity by 250,000 barrels per day and add another 30 million cubic meters to daily raw gas production.

Paknejad stressed the need for over $20 billion annually to maintain and develop oil and gas fields, requiring modern financing tools and greater private sector involvement.

He highlighted a recent cabinet resolution enabling energy-intensive industries and petrochemical companies to directly invest in gas field development. The first such contract is expected to be signed during the exhibition.

“To achieve the goals outlined in the Seventh Development Plan, we must overhaul contract procedures,” Paknejad said. “Previously, finalizing upstream oil and gas contracts took three to four years. We’ve reduced this to under one year thanks to approvals from the Economic Council.”

He added that new incentives have been introduced to make contracts more appealing, including higher internal rates of return, tax breaks, and bonuses for exceeding production targets.

A key initiative is the introduction of improved IPC (Iran Petroleum Contract) models, public-private partnerships, and financial instruments like the $6 billion National Oil Guarantee Fund to reduce investment risk and enhance transparency.

Paknejad emphasized the ministry’s commitment to local content, noting that 86 contracts worth $200 million have been signed with 68 knowledge-based firms, leading to foreign currency savings and greater self-sufficiency in refinery equipment manufacturing.

At this year’s exhibition, an additional 16 contracts worth $150 million are expected to be signed with knowledge-based companies for the production of “first-time” domestic goods.

The minister said the Oil Ministry is pursuing funding through the National Development Fund, domestic banks, and international sources, aiming to finalize over $10 billion in oil and gas development contracts this year.

He cited a recent event dedicated to investment transformation in the upstream sector, where more than 200 opportunities were officially introduced for the first time.

“These efforts reflect our firm resolve to increase private sector participation and highlight the strategic role of oil and gas in wealth creation and national development,” Paknejad said.

He also pointed to the government’s commitment to fostering international partnerships, particularly with neighboring countries, to expand Iran’s presence in global energy markets.

Recent collaborations include a gas swap agreement between Turkmenistan and Turkey via Iran, which strengthens Iran’s role as a regional energy hub. Paknejad also noted progress in cooperation with Russia, including a legal framework to facilitate joint investments and reduce political risks through a proposed treaty.

Paknejad concluded his remarks by underscoring the importance of adopting emerging technologies such as artificial intelligence across the oil and gas value chain, calling it essential for the industry’s modernization.

He thanked President Masoud Pezeshkian and Supreme Leader Khamenei for their support, stating that oil is a divine blessing that must be leveraged for national empowerment and comprehensive development.

The 29th International Oil, Gas, Refining, and Petrochemical Exhibition runs from May 7 to May 10 in Tehran. Open daily from 8 a.m. to 3 p.m., the event is regarded as the largest oil industry gathering in the Middle East.

According to the exhibition’s director, Saman Ghoddousi, around 2,200 Iranian and international companies are participating, including firms from China, Russia, Spain, Italy, the UK, Switzerland, South Korea, Turkey, India, the UAE, Canada, France, Germany, and Brazil.

“The exhibition offers a unique platform for knowledge exchange, business networking, and showcasing the latest technological achievements of Iranian industry players,” Ghoddousi said.

Due to high demand, five additional halls were added this year, along with expanded outdoor space. This year’s exhibition also features two major digital initiatives: an AI-based navigation system and a virtual exhibition platform, enabling remote participation.

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Speaking on Monday during his visit to the 26th International Exhibition of Oil, Gas, Refining and Petrochemical, President Raisi said that in recent years, good measures are being taken in the country’s oil industry to promote technology, basic and science-based activities”.

He emphasized the need to attach knowledge to ability and said, “If knowledge is attached to capabilities, work can be offered in domestic and foreign markets”.

Raisi stated that the International Exhibition of Oil, Gas, Refining and Petrochemical of Iran is one of the important industrial events in the country, noting, “I thank all people involved in holding this event and I hope to see more quantitative and qualitative development in this industry in the future”.

Regarding his assessment of the quality and quantity of the exhibition, the President said, “The reports that I received and the conversations I had during this visit with organizers of different stands indicate that good progress has been made, especially in the field of quality, and this promises a very bright future”.

Stating that the Islamic Republic of Iran is one of the most important exporters of oil, gas and petrochemical products in the world, Raisi clarified, “Our country’s experts in this field have a lot to say. It is very gratifying and hopeful that 70% of the equipment needed in the oil, petrochemical and gas industries are produced by Iranian specialists and companies in the country, but this point should not be enough”.

The President said, “Apart from qualitative development, quantitative development of oil, gas, refining and petrochemical industries can help create employment, especially in the field of knowledge-based activities, and on the other hand, increase the country’s export capacity”.

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Concurrent with the festivities marking the anniversary of the Islamic Revolution, Owji highlighted the performance and achievements of Iran’s oil industry since the victory of the Islamic Revolution.

He said despite all pressures and sanctions from the U.S., the country has overcome the maximum pressure of the Americans and oil industry staff are the soldiers of the economic war.

He emphasized the necessity of investment in the oil industry in order to keep up with the rise in the domestic consumption of fuel and its exports. He reiterated that the priority of the current government is to develop oil and gas fields, adding that due to lack of investment in the fields, the drop of pressure during gas supply has occurred and the gas refineries are working under their capacities.

He said that the country needs investment in the oil and gas fields for increasing the pressure and the ministry has planned for keeping the current production as well as discovery of the new fields. He said that the country needs $80b of investment for optimizing the upstream and downstream industries of oil and gas sector and new wells and drilling facilities are required.

Owji said the ministry does its best for investment in the joint and independent oil fields aimed at keeping a least the current amount of production and increase it.

He said that most of investments have been financial and financing in the oil and gas sector especially in the refineries and petrochemical sector, announcing readiness of holding over of a field for development to a holding from A to Z of the project.

He said that in order to attract investors, the ministry has changed the format of contracts by creating diversity in them. He added that in the next 8 years, the ministry will allocate up to $20b of oil and gas resources for developing the fields and the same amount of money will be invested by the Chinese investors under the 25-year cooperation agreement of Iran-China, stating that the ministry tries to have such a contract with Russian investors.

He reiterated that investment is the top priority in the oil and gas industry of the country and if it does not happen now, the country will turn into importers of oil and gas and oil products.

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One of the sectors with very outstanding performance in this due is the oil industry, as many measures and endeavors in this regard has already led to a high amount of self-reliance in all parts of this sector, including oil, gas, petrochemicals, digging, distributing, etc.

A recent measure in this field was the four memorandums of understanding (MOUs) Iranian Oil Industry Innovation and Technology Park signed last week with the country’s knowledge-based companies to cooperate in a variety of areas.

The MOUs covered cooperation in areas like providing capital for innovative companies and market development, using the infrastructure of Iran’s National Tech Market network in creating and developing the oil industry technology market, supporting and empowering businesses to meet the needs of the petrochemical industry, and artificial intelligence, as well as Internet of Things (IoT).

The mentioned MOUs were signed with Iran National Innovation Fund (INIF), Pardis Technology Park, Persian Gulf Petrochemical Industries Company (PGSIC), and Parsian Data Processing Group Company, in a ceremony attended by senior officials including Oil Minister Javad Oji, and Vice President for Science and Technology Sourena Sattari, in addition to Science, Research and Technology Minister Mohammad Ali Zolfigol.

Also in mid-November, Oil Ministry had signed an MOU with the Vice-Presidency for Science and Technology to cooperate in establishing new technology parks and development of a network for technological collaboration between the two entities.

The MOU, signed by Oji and Sattari at the place of Oil Ministry, is aimed at developing the oil industry’s innovation and technology bases and expanding the capacity of knowledge-based companies and start-ups active in the oil and gas industry.

Investment and financial support of the start-ups and knowledge-based companies in order to encourage them to meet the technological needs of the oil industry are also among the goals of the mentioned MOU.

Under the framework of the MOU, the Vice Presidency for Science and Technology is also going to define special incentives for supporting knowledge-based and creative companies in various areas including the registration of domestic and international patents, domestic and international trademarks, regulating national and international standards, approvals, and certificates, and insurance of technological products, as well as participating in domestic and international exhibitions.

In Addition, in mid-July, Iran’s Research Institute of Petroleum Industry signed two deals with domestic knowledge-based companies for commercial production of newly indigenized oil equipment.

Many research projects are also underway in the oil sector, and the number is noticeably increasing, for example National Iranian South Oil Company (NISOC) has tripled the number of its research projects in the current year, as compared to the last year.

The oil minister, has recently said that the new plan of the ministry for the development of oil and gas fields will be well-centered, and emphasized: “We believe that more than 700 of these wells can be brought to high efficiency and productivity in less time by using the power of knowledge-based entities.”

And Managing Director of National Iranian Oil company (NIOC) Mohsen Khojasteh Mehr has said, “If we want to turn existing resources into wealth, we must use science and technology.”

Although all these efforts and approaches are admirable, the final goal of research and technology in the oil sector is to end selling raw materials (crude oil and natural gas), and producing and exporting final products instead, which has not been still materialized.

As announced last week by Science, Research and Technology Minister Mohammad-Ali Zolfigol, Oil Ministry has contracts worth over 10 trillion rials (about $34.482 million) with the universities of Science Ministry and has entrusted them with more than 40 large national projects.

He said, “Selling raw materials is not appropriate in the national movement program, the country that sells raw materials has not invested properly in science and technology.”

The minister also reiterated boosting value added through science and technology.

Oil minister has also lamented that about 50 percent of export is in the form of raw or semi-raw materials, which is a great weakness for the country, and emphasized the necessity of benefitting from the knowledge-based entities to tackle this weakness.

And Sattari has recently stated that the entry of oil industry into the field of research is a unique event.

Noting that great progress has been made in Assaluyeh (petrochemical hub in the southwest of Iran) in the last 20 years, he said: “Considerable investments are being made in the field of research, but we have not been able to achieve product production as much, and this is a problem and a challenge.”

The official again highlighted the entry of oil industry into the research field, and appreciated the endeavors of oil sector under the sanctions condition.

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As Shana reported on Tuesday, Head of RIPI’s Upstream Industries Research and Development Department Ezatollah Kazemzadeh has said RIPI is currently conducting primary studies for the increasing the recovery factor of Ahvaz, Bibi Hakimeh, and Rag Sefid fields, while also working on identifying unconventional hydrocarbon reserves in Soroush, Azar, Belal, and Danan fields as well.

According to Kazemzadeh, the first work package for Ahvaz and Bibi Hakimeh fields, which includes recognizing the field, turning field challenges into research topics, and screening recovery enhancement methods, has been completed, and the details of the second and third packages are being prepared to begin the work.

In Rag Sefid field, the first work package is similar to Ahvaz and Bibi Hakimeh fields, so the steps of recognizing information and setting existing patterns have been done by reviewing similar fields and comparing recovery enhancement methods; the results have been presented to the employer in the form of a request for proposal (RFP).

He further noted that in the second work packages defined for the mentioned fields, construction and updating of the reservoir simulator models and simulation of screening results will be done, while in the third work package, technological solutions will be provided to solve field challenges and laboratory pilot plans of selected recovery enhancement methods will be implemented.

In the fourth work package, the reservoir simulator model will be modified based on the results of the third stage and finally, in the fifth work package, the selected recovery enhancement method will be designed and implemented at the field and the results will be monitored closely, Kazemzadeh added.

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In 2020, National Iranian Oil Company (NIOC) announced the implementation of a new program for using the capacities of domestic knowledge-based companies, research institutions and universities for meeting the oil industry’s technological needs.

Since then, the company has conducted numerous research projects, held several events, and supported a great number of innovative ideas presented by knowledge-based companies and startups.

The RIPI

As the major research body of the Oil Ministry, the Research Institute of Petroleum Industry (RIPI) has inked numerous memorandums of understanding (MOUs) with knowledge-based companies and universities for cooperation in production of new equipment or conducting ground breaking research on oil and gas industry’s new areas.

According to the RIPI Head Jafar Tofiqi, diversifying the basket of technological products in the oil industry is one of the main goals of this institution’s collaboration with other knowledge centers.

“The research institute is not just a research contractor, it plays a strategic role in addressing the needs of the oil industry,” Tofiqi has said.

Last year, RIPI also carried out several major research projects aimed at increasing the recovery factor of the country’s oil fields in collaboration with the county’s universities.

Oil and Gas Industry Innovation and Technology Park

The movement towards innovation and new technologies has not been limited to the activities of the RIPI.

The Oil Ministry officially inaugurated the country’s Oil and Gas Industry Innovation and Technology Park in mid-June; this park aims to develop new technologies and expand cooperation among the entities active in innovation and technology fields like universities, research institutes, and private companies.

The inauguration ceremony of the park was attended by The outgoing Oil Minister Bijan Namdar Zanganeh,  Vice-President for Science and Technology Sorena Sattari and a group of top officials in the oil industry as well as researchers and technology experts.

Speaking at the ceremony, Zanganeh said the park’s main goal was to upgrade related technologies, develop markets, improve a knowledge-based economy and create professional job opportunities.

“It is going to utilize the Islamic Republic’s existing capacities in science and technology to develop the infrastructure in oil and gas sectors,” Zanganeh said.

Now, nearly two months after the inauguration of the park, this entity has signed eight MOUs with universities and science and technology parks across the country with the aim of establishing and launching joint innovation and technology centers.

The mentioned MOUs were signed with the University of Tehran, the Shahid Chamran University of Ahvaz, Sahand University of Technology, Institute of Geophysics of Tehran University, Khorasan Science and Technology Park, North Khorasan Science and Technology Park, Semnan Science and Technology Park, and Yazd Science and Technology Park.

The purpose of signing the MOUs with the University of Tehran and Shahid Chamran University of Ahvaz is reported to be the establishment of joint innovation centers, while the goal of signing the agreement with Sahand University of Technology, Geophysics Institute of Tehran University and Semnan Science and Technology Park is to establish joint growth centers.

In agreement with Khorasan, North Khorasan, and Yazd Science and Technology Parks, the Oil Industry Innovation and Technology Park also pursues the goal of supporting technology units active in the oil industry.

The Oil Industry Innovation and Technology Park had previously signed five cooperation agreements with the Ministry of Science, Isfahan Scientific and Research Park, as well as Shiraz University of Technology, and Amirkabir University of Science and Technology.

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Speaking at the opening ceremony of the Oil Industry Innovation and Technology Park on Monday, Sattari stressed the significant role of knowledge-based companies and startups in indigenizing the knowledge for the production of new equipment and products, saying: “The government will support research on new equipment and the private sector invests on the mass production of the final products.”

“The Petroleum Industry Research Institute can be a great platform [for working on the indigenization of equipment and products], but one cannot expect a researcher at this institute to produce a final product,” he said.

“The condition must be prepared for startups to thrive,” the official said, adding: “Technology companies provide this opportunity.”

According to Sattari, most of the investment needed for the expansion of work on new technologies must be provided by the private sector and not the government.

“The private sector needs to invest 10 times more on such projects compared to the budget that the government has spent on this park,” he stressed.

The Oil Industry Technology and Innovation Park, established on a 32-hectare land near Tehran, is a governmental and non-profit organization that aims to develop oil industry-related technologies in collaboration with universities, research and development institutes, and private companies.

Strengthening domestic production and indigenizing the knowledge and technology for the production of the products and equipment that Iran imports from other countries has become one of the major programs that the country is pursuing in recent years.

To materialize this objective, knowledge-based companies have played a noticeable part, especially in indigenizing the products and equipment applied in the oil industry, which is the major sector in the country’s national economy.

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As Shana reported, the mentioned contracts were signed in IOIV’s official opening ceremony on Monday.

Two of the said deals were signed for the guaranteed purchase of electrical submersible pumps (ESP) and drill bits with Fanavaran Parsian Company and Asmary Field Services Company, respectively.

The other two deals were signed as venture capital (VC) deals with Faradid Company and Aban Company for two projects on artificial intelligence in the field of HSE and EO purification.

As reported, IOIV is going to offer about 20 trillion rials (about $476 million) worth of guarantees for supporting startups and knowledge-based companies active in the oil, gas, and petrochemical sectors.

The fund has so far issued over one trillion rials (about $23.8 million) worth of guarantees for such companies.

Established in August 2020, IOIV is a semi-governmental fund that is aimed to help startups and knowledge-based companies active in the oil, gas, and petrochemical industries fund their innovative projects.

Over the past decade, the Iranian Oil Ministry has been pursuing a program for using the capacities of domestic knowledge-based companies for meeting the oil industry’s technological needs.

Back in August 2020, the Head of the National Iranian Oil Company (NIOC) Research and Technology Directorate Ebrahim Taleqani said that NIOC intends to overcome some of its challenges regarding technological needs in various sectors including construction, services, and innovative solutions in cooperation with such companies and institutions.

According to Taleqani, NIOC and its subsidiaries have selected 51 main challenges among more than 220 issues and various needs, which can be solved by using technological solutions and the scientific and technical capacities of knowledge-based companies.

Since the reimposition of the U.S. sanctions, Iran has been encouraging domestic companies’ presence in its oil and gas projects more seriously.

According to Ali Vatani, an advisor to the Vice Presidency for Science and Technology, currently, about 300 knowledge-based companies are active in various fields of the oil industry in Iran.

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During the meeting, the petroleum minister presented a report on increasing the capacity of crude oil production, increasing production and export of natural gas, petrochemicals, developing technology, bolstering domestic production, supporting knowledge-based companies, optimizing fuel consumption, and sharing experiences.

Iran and the Six world powers_ the US, UK, France, Russia, China, and Germany_ reached a landmark nuclear agreement on July 14, 2015.

In January 2016, Day of implementation of the agreement was announced; meanwhile, the US withdrew unilaterally from the international deal in May 2018.

The US imposed the highest level of sanctions, as it claimed, on Iran in November the same year.

Iranian President Hassan Rouhani has called the US sanctions against the Iranian nation as economic War.

Earlier, Hamid Reza Oluomi-Yazdi, head of the Presidential Center for International Legal Affairs, said that all sectors of Iran’s economy, including oil and gas and finance and banking, have been affected by the cruel US sanctions, which have inflicted financial and non-financial losses on the Iranian people and companies.

He recalled that information and documents relating to the number of damages will be provided to the International Court of Justice in the later stages of the proceedings, saying that the US refused to heed the ICJ Provisional Measures, and did not remove barriers and sanctions related to the export of food, medicine, and medical equipment and still does not follow the ICJ provisional order.

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