Iran’s Oil Supply Chain to Become Smart With $392mn Investment

Date: 02 February 2025 - 21:52

News ID: ۱۳۶۴۹۷

TEHRAN – The CEO of the National Iranian Oil Engineering and Construction Company Muhammad Meshkinfam on Sunday announced that the country’s oil products supply chain will be modernized through a $392 million investment.
Speaking during the signing ceremony of a memorandum of understanding (MoU) for the “Real-Time Monitoring and Smart Management of the National Oil Products Supply Chain” project, Meshkinfam highlighted the progress made.
The event was attended by key figures, including Muhammad-Sadeq Azimifar, CEO of the National Iranian Oil Refining and Distribution Company; Hossein Rahimi, head of the Economic Security Police; Keramat Veys-Karimi, CEO of the National Iranian Oil Products Distribution Company; and Ali Ahmadipour, CEO of the Iranian Oil Pipelines and Telecommunications Company.
Meshkinfam stated that the project aligns with legal mandates outlined in the Seventh Development Plan. Over the past three months, teams have worked around the clock to identify existing systems and connect necessary equipment. The project will now be fully equipped with an online monitoring system.
He noted that over the past month, three companies—Irancell, MAPNA, and the Oil Design and Construction Company—were identified as key partners. After numerous meetings and detailed discussions, the MoU was successfully signed. The main contract is expected to be finalized by the end of the current Iranian year (March 20).
Meshkinfam emphasized that the $392 million project will cover the entire oil production and distribution supply chain. Key initiatives include installing metering systems at pipeline entry and exit points, completing a 4,209-kilometer fiber-optic network for the Oil Pipelines and Telecommunications Company, equipping pipelines with leak detection systems, installing metering systems at major delivery points such as power plants, and outfitting road transport fleets with tracking systems.
The project aims to enhance efficiency and oversight across Iran’s oil supply chain through advanced technology and infrastructure upgrades.