Speaking at the signing ceremony of eleven contracts and memorandums of understanding on the sidelines of the Iran International Oil, Gas, Refining And Petrochemical Exhibition, Owji said: we have opened the petroleum ministry doors toward domestic knowledge-based companies.

Commenting on the closing day of the 4-day event, he thanked all peoples who were involved in holding the event, noting that the Oil Show paved the ground for state oil companies and domestic producers and manufacturers to realize each other's needs.

Owji further said that due to lack of enough space, just 1700 companies could take part in this year’s oil show, while the participant companies could go beyond 2500 in case of providing enough space for all of them.

Elsewhere in his remarks, he said the exhibition carried the message of reliance inside as we have been waiting neither for negotiations nor foreign companies for development of oil industry projects.    

“Currently we have nearly 150 billion dollars of projects on the agenda to implement including semi-finished and new ones”, the minister said, adding “the ministry has tried, with the government help, to sweeten the terms of contacts for investors so that we can say none of oil industry projects are facing uncertainty.”  

The petroleum minister also reported of the final stage of construction of 1000 km for conveying oil products through pipeline stating that between 16 to 20 thousand tanker trucks are involved in carrying fuel on roads imposing a high cost on the country.

In addition to 1,500 Iranian firms, a sum of 250 companies from 12 countries have taken part in Iran Oil Show 2024, whose motto is “Petroleum industry, production leap and technological optimization”.‎

Participants from the upstream, intermediate and downstream sectors of the oil industry, along with associations and unions of oil industry equipment manufacturers, first-time producers NTBFs are showcasing their achievements in the Iran Oil Show 2024, which is the most important Iranian event related to the oil industry.

Inaugurated on Wednesday, the exhibition will be open to visitors at the Tehran International Permanent Fairground every day from 9:00 a.m. to 4:00 p.m. (0530 to 1230 GMT) until Saturday.