IOOC voices support for domestic production

May 12, 2019 - 20:10

TEHRAN – The managing director of Iranian Offshore Oil Company (IOOC) has voiced his company’s readiness for establishing joint ventures with private manufacturers, Shana reported on Saturday.

“Given the fact that the reservoirs operated by IOOC were mostly in their second half of their lifespan, new research projects needed to be carried out to separate oil from water in the produced oil,” Hamid Bovard said on the sidelines of a visit to a knowledge-based private company called Fan Nirou Co.

He also called on private companies to join state organizations in order to maximize their efficiency.

“All our efforts at IOOC are focused on turning this company into a major workshop and coordinated with other domestic manufacturers so that all the domestic potentialities can be exploited where needed.” The official said.

IOOC is one of the world's largest offshore oil producing companies, with over a half century of experience. The Company shares one third of Iranian oil export, operating in Iranian side of the Persian Gulf and Oman Sea.

The main operation area of Iranian Offshore Oil Company is the Persian Gulf where four other oil producing countries are located in the other side. Accordingly, Persian Gulf has been known as the world's most oil-rich region where the exploration activities and oil and gas production are very attractive.