“Making good use of the opportunity of sanctions, indigenous manufacturers are now rapidly replacing large foreign producers and this can contribute to the complete independence of the oil industry from foreigners,” Qasemi noted .
He added that the Iranian oil industry is recruiting national rather than foreign contractors in their race towards “100-percent” independence from foreigners.
A contract will soon be signed with Iranian contractors to build 12 drilling rigs, in line with the policy for making the most of the country’s domestic capabilities in the upstream sector of the oil industry, Qasemi said.
In an address to the Iranian Majlis (parliament) earlier this week, Qasemi said with sufficient investment in the oil industry, Iran's crude and gas output would increase four- and 2.5-fold respectively by the end of the Fifth Economic Development Plan (2011-2015).
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Publish Date: 30 June 2012 - 20:21
Iranian Oil Minister Rostam Qasemi says the anti-Iranian sanctions have given indigenous manufacturers the opportunity to take over the county’s oil industry from big foreign firms.