BAKU, Azerbaijan, December 11. The National Iranian South Oil Company (NISOC) has managed to save some 12 million euros in the last two years, thanks to necessary equipment made domestically, said Mohammad Golestanbagh, Director of Research and Technology Department of the NISOC, Trend reports.
He said that certain equipment needed by NISOC was made thanks to 8 contracts signed between Iranian start-up companies and Science, Technology and Economic Knowledge Base Department of the Iranian Presidential Office.
The director said that a total of 5 trillion rials (about $119 million) was spent on contracts that created 130 jobs. As a result, NISOC received the needed equipment.
He added that one of the contracts resulted in the domestic production of 4 “Perla 260” multifunctional pumps by Iran’s Exin Gas Pump start-up company in the fifth month of the current Iranian year (July 23 through August 22, 2023).
Golestanbagh also pointed out that each pump increased the crude oil production in the NISOC area by 5,000 barrels per day, and that the installation of the remaining 3 pumps would boost the production by another 15,000 barrels per day.
The National Iranian South Oil Company, a subordinate of the National Iranian Oil Company, operates 45 large and small hydrocarbon deposits in an area of 400,000 square kilometers from Iran's Bushehr Province to the north of Khuzestan Province.
The company extracts about 80 percent of Iran's crude oil and 16 percent of its gas.
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