Ebrahim Piramoun added that two key contracts in the turbine and compressor sectors were signed with new technology-based firms (NTBFs), one of which is currently at the memorandum of understanding stage, with their combined value reaching around $80 million.

Piramoun, speaking Sunday during a visit to the press office of the Ministry of Oil’s public relations department on the final day of the 29th International Oil, Gas, Refining & Petrochemical Exhibition (Iran Oil Show 2025), emphasized that most of the country’s major oil reserves are located in the southern oil-rich regions.

“We have a significant mission in this regard,” he said. “Aging wells require revitalization, and various measures using modern technologies have been implemented or are underway. From the Masjed Soleyman oil field to others, there are wells prioritized for revival.”

He highlighted the importance of well revival and enhanced oil recovery (EOR), noting that the two fields are distinct. “Well revival primarily focuses on increasing production flow rates, while EOR aims to improve reservoir recovery rates,” he explained.

Regarding EOR, Piramoun said gas injection into reservoirs has been the most critical approach in recent years, yielding positive results in boosting recovery rates. “However, we currently face some limitations, and we hope to resolve these issues through necessary evaluations to continue gas injection until the end of the program,” he added.

He also mentioned the exploration of alternative methods, such as low-salinity water injection, as a complementary solution, stating, “We are studying fields where this method can be applied.”

 Supporting domestic manufacturing , first-time production contracts 

Piramoun noted NISOC’s key role in producing 75% of the country’s oil, stating, “The large number of upstream oil units and facilities necessitates serious support for domestic production.” Several major first-time production contracts with NTBFs were signed at the exhibition.

He also announced the signing of supply contracts in the private sector, saying, “Contracts worth around 2 billion tomans (approximately $480,000) were signed for chemicals, spare parts for rotating equipment, drilling mud, cement, and energy optimization.”

 Role of specialized media in advancing oil industry 

In his closing remarks, Piramoun praised the professional performance of the Shana news agency in covering the 29th International Oil, Gas, Refining & Petrochemical Exhibition (Iran Oil Show 2025).

“Shana played a crucial role in providing accurate, professional, and extensive news coverage,” he said. “This kind of reporting serves as a link between the private and public sectors, facilitating cooperation. High-quality news coverage is a vital tool for the growth and progress of the country’s oil industry.”