Speaking at the specialized meeting "Iran Oil Innovation Event" on the sidelines of the 29th International Oil, Gas, Refining & Petrochemical Exhibition (Iran Oil Show 2025) on Friday, Hamid Bovard highlighted NIOC’s approach to collaborating with industry players. "We have held numerous meetings and officially announced our readiness to share knowledge and brainstorm with our business partners to achieve mutual benefits," he said.

Bovard added that NIOC aims to create a platform for the country’s development, growth, and prosperity with the participation of all industry stakeholders. "We hope future negotiations will yield favorable results and pave the way for the nation’s progress," he said.

 AI, transformation in oil, drilling industry 

The deputy oil minister pointed to artificial intelligence’s role in improving oil industry performance, stressing that the technology could position Iran as a leading global player.

Regarding upstream contract negotiations, Bovard noted that preliminary reviews and supplementary studies are among the main reasons for prolonged discussions. "Numerous companies enter negotiations, and we are working to minimize the time needed for these assessments and implementations," he said.

He also highlighted the role of data simulation in major decision-making, stating that specialized software processes vast amounts of data. "This technology has ensured outputs are over 90% accurate to reality and optimized drilling costs by more than 60%," he added.

 Expanded cooperation with foreign institutions 

The deputy minister said NIOC has begun extensive research collaborations with Iranian universities and some foreign institutions, including a Norwegian university and an Iranian company. "These partnerships have increased drilling efficiency by 15%, with potential for 30% improvement if efforts continue," he said.

Bovard emphasized that NIOC is developing infrastructure and plays a key role in Iran’s economy as the operator of one of the largest energy transmission networks.

He invited industry players to enhance cooperation, saying, "With an open mindset, NIOC is ready to engage with investors and innovators to leverage cutting-edge technologies and drive the country’s economic development."