TEHRAN - Some 15 contracts worth $1.1 billion were signed on the last day of the Iran Oil Show 2024, Shana reported.

The 28th edition of the Iran International Oil, Gas, Refining, and Petrochemical Exhibition – also known as the Iran Oil Show – came to an end on Saturday.

On the last day of the event, some $1.1 billion worth of contracts were signed by the Oil Ministry, the National Iranian Oil Company (NIOC), and the Scientific, Technological, and Knowledge-based Department of the Presidential Office with domestic companies.

The contracts included 11 first production contracts worth $580 million and four other contracts for indigenizing oil industry equipment valued at over $520 million.   

The signing ceremony of the mentioned deals was attended by Rouhollah Dehghani, the vice president for science, technology, and knowledge-based economy, Oil Minister Javad Oji, and NIOC Head Mohsen Khojasteh-Mehr.

A 200-million-dollar contract signed between the Scientific, Technological, and Knowledge-based Department of the Presidential Office and Sepahan Oil Company was about developing knowledge-based economy in refining industries, renewable energies, and related areas.

A deal for the localization of the coiled tubing was also inked between the Manufacturing, Support, and Procurement Kala Naft Company, a subsidiary of the NIOC, and FALIZ Pajouhesh Pars company with a contract value of $12 million.

The Manufacturing, Support, and Procurement Kala Naft Company also signed another contract with two Iranian firms of the Behesht Kavir Ariana and the Parand Forged Steel Pipe worth $800 million on indigenization of corrosion-resistant alloy (CRA) tubing.

Speaking at the signing ceremony Oji said: “Since the 13th administration took office 2.5 years ago, we have waited neither for foreign companies nor negotiations to provide our needs to goods but have been looking for meeting our needs at home.”

“We have opened the oil ministry doors toward domestic knowledge-based companies,”  he added.

Commenting on the closing day of the 4-day event, he thanked all peoples who were involved the event, noting that the Oil Show paved the ground for state oil companies and domestic producers and manufacturers to realize each other's needs.

In addition to 1,500 Iranian firms, some 250 companies from 12 countries took part in the Iran Oil Show 2024, whose motto was “Petroleum industry, production leap, and technological optimization”.?

Participants from the upstream, intermediate, and downstream sectors of the oil industry, along with associations and unions of oil industry equipment manufacturers, and first-time producers NTBFs showcased their achievements in the Iran Oil Show 2024, which is the most important Iranian event related to the oil industry.

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