Deputy Minister of Petroleum for Engineering, Research and Technology Mohammad-Reza Moqaddam told IRNA on Friday that Iranian manufacturers are now capable of manufacturing 60 to 65 percent of the oil industry needed equipment.
He said taking the 10 groups of highly required oil industry items, produced in Iran, it can be said that Iranian manufacturers are capable of produce 75 to 80 percent of the equipment.
He said the upstream equipment, used in the exploration and extraction, and the downstream equipment, used in refining, gas and petrochemicals, is exported to the neighboring countries. The upstream equipment exports are higher than that of the downstream ones, he added.
The official put total value of the indigenized oil industry items at close to two billion dollars.