BAKU, Azerbaijan, May 10. As part of its development initiatives, Iran's Gachsaran Oil and Gas Production Company (GOGPC) has signed ten contracts with domestic firms, committing around 1.1 trillion rials (about $1.97 million) in investment, the company’s CEO, Aliakbar Hafezi Nia, told reporters, Trend reports.
According to Hafezi Nia, under the contracts signed with ten domestic Iranian firms during the 29th Iran International Oil, Gas, Refining and Petrochemical Exhibition in Tehran on May 9, a range of equipment—including security systems, fuel electric pumps, pipeline components, and compressor spare parts—will be produced and delivered for use in the GOGPC’s operational fields.
The official added that the manufacture of critical supply equipment for the oil and gas sector by domestic companies will further strengthen the country’s local capacity in the energy industry.
Iran's Gachsaran Oil and Gas Production Company is subordinate to the National Company of Southern Oil Zones. Gachhsaran Oil and Gas Production Company is engaged in the production, refining, and transportation of crude oil, the production of natural gas, and gas condensate. This company has the potential to produce 652,000 barrels of crude oil daily. A total of 950 million cubic feet (approximately 26.9 million cubic meters) of gas is produced daily from the company's fields. As much as 800 million cubic feet (about 22.6 million cubic meters) of produced gas is injected into the company's Bid-Boland gas processing plant, and 150 million cubic feet (about 4.24 million cubic meters) of gas is pumped into oil wells.
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