During a ceremony to unveil new wellhead equipment on Tuesday morning, Mr. Owji said the unveiled items are among high-tech equipment used in the oil industry.

He said only a very few countries in the world have the capability of producing such items which had to be imported previously.

Many of the regional oil-rich countries are in need of such items that provides a good export market for Iranian manufacturers, he went on to add.

Owji further expressed hope that some of the equipment needed in the field of drilling will be made by knowledge-based companies in the country and under the current administration, and the country will be self-sufficient in this field.

Well equipment with a working pressure of 15,000 psig is one of the essential items of the Ministry of Petroleum, which was built based on knowledge-based production for the first time in the country and region.