TEHRAN - Iranian Oil Ministry has signed a memorandum of understanding (MOU) with the Vice-Presidency for Science and Technology for cooperation in establishing new technology parks and development of a network for technological collaboration between the two entities.

The MOU was signed by Oil Minister Javad Oji and Vice President for Science and Technology Sourena Sattari at the place of the ministry on Thursday, Shana reported.

The MOU 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.

Over the past few years and especially since the re-imposition of the U.S. sanctions, the National Iranian Oil Company (NIOC) has been seriously pursuing various programs for using the capacities of domestic knowledge-based companies for meeting the oil industry’s technological needs.

According to the Head of the NIOC Research and Technology Directorate Ebrahim Taleghani, cooperation between the oil industry and the country’s knowledge-based companies and startups, in addition, to helping the purposeful growth of these companies and motivating them, will play an important and practical role in solving challenges and operational problems of NIOC subsidiaries and meeting the key needs of the oil industry’s upstream sector.

“The National Iranian Oil Company 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,” Taleqani said.

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Photo: Oil Minister Javad Oji (L) and Vice President for Science and Technology Sourena Sattari exchanging signed MOU documents.