The Iranian Oil Terminals Company and the Iran Marine Industrial Company (Sadra) signed a memorandum of understanding (MoU) on Friday, the second day of the 29th International Oil, Gas, Refining & Petrochemical Exhibition (Iran Oil Show 2025), to conduct engineering studies and carry out major repairs on floating buoys at the Kharg and South Pars terminals.

Under the agreement, the primary objectives include technical studies and feasibility assessments for replacing floating buoys at the Kharg oil terminal with those currently at Sites 1 and 2 of the South Pars gas condensate terminal, as well as performing major repairs on Buoy No. 3 at Site 2 of the terminal.

Abbas Asadrouz, CEO of the Iranian Oil Terminals Company, highlighted the importance of the collaboration during the signing ceremony, stating: “Today marks a significant step toward enhancing the resilience and sustainability of the country’s export infrastructure. This agreement reflects confidence in domestic technical and engineering capabilities and is a strategic move to rebuild critical equipment at Iran’s most important oil and gas condensate terminals.”

He emphasized that the Iranian Oil Terminals Company is committed to modernizing key oil industry equipment using domestic expertise, with a focus on cost efficiency and productivity. “Partnering with Sadra on these projects will be a milestone in leveraging local capabilities to ensure the stability of Iran’s export operations,” he added.

The implementation of this agreement, drawing on the technical expertise of both companies, is expected to improve the reliability of marine loading systems, reduce maintenance costs, and enhance operational efficiency.

This MoU is part of broader efforts to strengthen ties between the oil industry and domestic manufacturers, underscoring the Iranian Oil Terminals Company’s commitment to relying on local engineering and technical expertise for the development of the country’s export infrastructure.

The 29th International Oil, Gas, Refining & Petrochemical Exhibition (Iran Oil Show 2025) runs for four days at the Tehran Permanent International Fairgrounds. Visitors can attend the event from 8 a.m. to 3 p.m.