Ahmad Mohammadi, NISOC CEO, and Sepehr Sepehri, CEO of PetroIran, signed the document on Monday, NISOC reported.

According to Mohammadi, multi-phase pumps are important equipment used in low-pressure wells and are effective in ensuring production maintenance in such wells.

He said that the use of this equipment for low-pressure wells is more efficient and cost-effective than downhole pumps and has a beneficial effect on increasing the life of the well, improving the production process, preventing burning of gas flare and protecting the environment.

Mohammadi said the MOU was signed in order to support localization of such pumps in the oil industry.

PetroIran is a state-owned company and its general policy is to support domestic firms, especially knowledge-based companies.