TEHRAN - The National Iranian Oil Company (NIOC) has launched 10 oil and gas projects with a total value of €30 million.

“The projects will effectively contribute to job creation and technology development in the country,” NIOC official Mahdia Motahari said, Shana reported.

He went on to say that a list of 14 strategic items required by the oil industry has been prepared.

“The list can generate a turnover of several hundred million dollars inside the country and be effective in the formation of knowledge-based and technological companies.”

It is necessary for knowledge-based companies to prioritize new technological projects in order to meet the needs of the oil industry, he stressed.

The indigenization and domestic production of oil and gas industry equipment have been always among the objectives of the Iranian Oil Ministry.

However, the issue became further highlighted since the re-imposition of the U.S. sanctions and Washington’s determination for cutting off the Islamic Republic’s ties with the world's advances in knowledge and technology, especially in the oil and gas sector.

In this regard, over the past few years, the ministry has been seriously supporting knowledge-based companies and startups and several events, exhibitions, and panels have been held to encourage the mentioned companies’ contribution to the country’s oil and gas industry.

Back in January, Oil Minister Javad Oji said domestic producers are currently supplying over 70 percent of the oil industry’s needed equipment, adding that this figure can increase to 95 percent.

Speaking in a meeting with the representatives of the country’s oil and gas equipment manufacturers, Oji said: “Currently, a major part of the equipment and parts needed by all sectors (upstream and downstream) are supplied by domestic manufacturers.”

The minister noted that various meetings have been held with domestic executors and contractors to ensure the implementation of the oil industry projects, adding: “We have also had several meetings with members of parliament about the next year’s budget bill because since most of the budget funding comes from the oil industry, we have to pay close attention to it.”

MG