Iran Completes ‘Resistance’ Economy International Oil Exhibition

Iran Completes ‘Resistance’ Economy International Oil Exhibition

The 20th International Oil, Gas, Refining and Petrochemical Exhibition of Iran has come to an end after four days in the capital city, Tehran.

Organized by the Public Relations Department of Iran’s Petroleum Ministry in cooperation with Iran International Exhibitions Company, the four-day oil show was kicked off at Tehran Permanent International Fairgrounds on May 6 with the goal of bolstering domestic manufacture through reliance on the principles of resistance economy.

The main topics of the exhibition included research and development, innovation and new projects, oil and gas production and transportation, IT technology, as well as technical and engineering services.

Oil and gas exploration in addition to manufacture of necessary machinery, equipment, instruments and accessories for the oil industry were other focuses of the oil show.

The 20th oil exhibition was attended by more than 1,200 domestic and 600 foreign companies from 29 countries, which exhibited their achievements and products over an area of 50,000 square meters.

Companies from such countries as France, Belgium, the UK, Singapore, Monaco, South Korea, Ukraine, Spain, Austria, China, Kazakhstan, Switzerland, Italy, Germany, the United Arab Emirates, India, Turkey and Russia took part in this edition of the exhibition.

The oil show was also visited by delegations from other European countries, including Poland and Norway.

Iranian officials hoped that the high-profile oil and gas show would attract investment for further development of the giant offshore South Pars gas field, which is shared with Qatar, and the hydrocarbon fields located in West Karoun region in southwestern Iran.

Iran sits atop the world’s 4th largest oil reserves and the second largest gas reserves.

The huge South Pars gas field, divided into 29 development phases, contains 40 trillion cubic meters (tcm) of natural gas.

The field covers an area of 9,700 square kilometers, 3,700 square kilometers of which are in Iran’s territorial waters in the Persian Gulf. The remaining 6,000 square kilometers are situated in Qatar’s territorial waters.

The gas field is estimated to contain about eight percent of the world’s reserves, and approximately 18 billion barrels of condensate.

Source: Press TV


Welcome! Login in to your account

Remember me Lost your password?

Don't have account. Register

Lost Password