Oil Industry Equipment Manufacturers, Key in Development of Petchem Industry

Oil Industry Equipment Manufacturers, Key in Development of Petchem Industry
(Tuesday, January 19, 2021) 12:27

TEHRAN (NIPNA) – The head of the board of directors of the Oil Industry Equipment Manufacturers Association said: "The petrochemical industry is an attractive, high-yield and important market for companies manufacturing oil industry equipment."

Majid Mohammadpour told a press conference that the association had participated in various petrochemical industry projects in recent years and has cooperated with numerous petrochemical companies including the Persian Gulf Petrochemical Industries Company (PGPIC).

He added: "Last year, at Kish Oil Exhibition, we signed a memorandum of understanding with the Persian Gulf Petrochemical Industries Company regarding increasing the share of domestic equipment in the petrochemical industry, which has also had good achievements so far."

Mohammadpour stated: “The petrochemical industry is an attractive, high-yield and profitable market for oil industry equipment companies. This association has had good cooperation with the country's petrochemical industry.”

Pointing out that 820 companies are subsidiaries of the association, he said of these, 182 are knowledge-based companies and the same number are in the queue to become knowledge-based companies, creating a total of 80,000 direct jobs and 250,000 indirect jobs.

He added: "With regards to the prowess of these companies, the capacity of manufacturing oil industry equipment is estimated at five billion Euros."

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