Iran ends US monopoly over wellhead equipment

TEHRAN, May 09 (MNA) – Iranian oil industry has broken the monopoly of American companies in technical know-how of manufacturing wellhead equipment.

For the first time in history, the Islamic Republic of Iran has put an end to US companies’ monopoly of the technical knowledge to design and manufacture wellhead equipment used in oil and gas fields.

Accordingly, given the indigenous construction of the complex oil and gas industry equipment and in line with the oil minister’s directive not to buy foreign products with domestic equivalents, the import and purchase of these products from European and particularly American companies have been banned.

Masoud Ziyari, Project Director of South Pars Phases 13, 22 and 24, told the reporters “for the first time and with the effort of Iranian experts, America’s monopoly in construction of complicated wellhead facilities in oil and gas industries has been broken.”

“A Memorandum of Understanding (MoU) for manufacturing and supplying of the oil and gas industry equipment was inked among domestic manufacturers, companies active in South Pars phases as well as Society of Iranian Petroleum Industry Equipment Manufacturers (SIPIEM).

The official stressed that the signed agreement has prepared the ground for mass production and meeting the needs of Iran’s oil and gas industry; “in other words, it is now possible to use domestically manufactured equipment instead of importing theses goods from European and American firms at high prices.”

The official also reported in the sealing of an MoU to produce a new generation of drills for oil and gas rigs inside the country stressing “moreover, another much-used piece of equipment containing downhole safety valves have been designed and built for the first time in Iran.”

Recalling that domestic construction of the equipment would save up nearly 300 million dollars for the country concluding “currently, with the participation of contractors, domestic manufacturers as well as partnership with international knowledge-based companies, manufacturing of various advanced equipment in Iran’s oil and gas industry has become possible.”

By Mehr News Agency