TEHRAN – Iran’s Petroleum Minister Javad Owji on Saturday announced that $12 billion worth of semi-finished oil and gas projects have been completed in the last Iranian calendar year (ended March 20, 2023), and added that Phase 11 of the South Pars Gas Field will be put into operation within the next three months.
Speaking in a TV program regarding the 27th Iran International Oil, Gas, Refining and Petrochemical Exhibition dubbed “Iran Oil Show 2023”, Owji described the exhibition as the most prestigious in the Middle East region.
Some 1,500 domestic oil and gas companies and about 200 foreign firms took part in this edition of the exhibition to showcase their latest products and achievements, the oil minister added.
The administration of President Ebrahim Raisi managed to sign about $40 billion worth of contracts in the oil and gas sectors, he said, adding that about 200 domestic and foreign contracts have so far been inked in this edition of the exhibition.
Owji further pointed out that about $36 billion worth of contracts was concluded last year, about $12 billion of which are related to semi-finished projects.
Elsewhere in his remarks, the oil minister pointed to the use of technology in the refinery sector and said ‘technological production’ has been selected as the slogan of this year’s exhibition.
The Petroleum Ministry has so far cooperated with 550 knowledge-based companies in line with upgrading technology in the field of oil and gas production, he stated.
Owji said his ministry’s “umbrella is open to fully protect domestic companies that present knowledge-based and environmental plans”.
Javad Owji pledged the Ministry of Petroleum’s support during his visit to the Self-Sufficiency Pavilion of the National Iranian gas Company (NIGC) on the last day of the 27th Iran International Oil, Gas, ‎Refining and ‎Petrochemical Exhibition in Tehran.
Talking to reporters, the minister expressed his satisfaction with the participation of over 1,500 domestic and 200 foreign companies in the exhibition, also known as Iran Oil Show 2023.
He praised the ministry’s engineering department for named the products and services imported, adding they will be for the first time supplied by domestic companies and industrialists.
Owjui said that more than 200 agreements and memorandums of understanding (MoUs) have been signed between Iranian and international companies during Iran Oil Show 202.
Owji added over 160 billion dollars are needed to develop oil industry upstream and downstream sectors.
More than five-billion-dollar agreements and 40-billion-dollar MoUs have been inked with international companies to develop oil and gas fields during the 13th (incumbent) administration, he said