2020-October-27 00:57
Economy
2020-October-5  18:19

Iranian Experts Outpace Total’s Physical Progress Rate in Development of Oil Fields

TEHRAN (FNA)- Head of Khatam al-Anbiya Construction Headquarters Saeed Mohammad said that Iranian specialists have outpaced the international gas and oil company, Total, in developing oil fields in Iran.

“In one of its previous projects in South of Iran, Total had made 3% rate of physical progress per month, and for years, some referred to this as an important issue and a sign of the quality and speed of the disloyal European company,” Mohammad Said on Monday.

“But despite the harshest, and most cruel sanctions, the high speed of Khatam al-Anbiya Construction Headquarters in an oil super project with the monthly physical progress of 3.5% has set a new record in our country's oil industry to show that the technical capacity and determination of our experts stands above foreign contractors,” he added.


Head of Khatam al-Anbiya Construction Headquarters Saeed Mohammad

Mohammad had announced in March that the HQ has managed to save the country more than $7 billion by localizing the equipment in some industries including oil and gas within five years.

Speaking on the occasion of organizing Iranian Technical and Engineering Capabilities’ Exhibition, Mohammad said, “Despite sanctions imposed against the country, competent domestic companies managed to cut dependency on foreign companies particularly in oil and gas industries.”

Turning to the activity of Khatam-al Anbiya Construction Headquarters in the oil and gas sector, he stated, “The HQ, in cooperation with the private sector, succeeded in indigenizing more than 70 percent of large industries including steel and copper in sanctions period.”

He pointed to the key role of the private sector and added, “Khatam-al Anbiya Construction Headquarters has stood by the private sector for the economic prosperity of the country.”