NIDC boosts local tech in oil drilling push

SHANA (Tehran) – The CEO of the National Iranian Drilling Company (NIDC) said one of the company’s strategic priorities in recent years has been the localization of key equipment and increasing the share of domestically manufactured components in drilling projects. A notable example is the construction of the third domestically built drilling rig, which resulted in savings of $7 million.

150 NTBFs established at Oil Industry Technology Park

SHANA (Tehran) - The head of the Oil Industry Technology and Innovation Park announced that 150 new technology-based firms (NTBFs) have been established at the Razi Campus in Tehran’s Shahriar district, achieving success in commercialization and securing oil-related contracts.

New regulations drafted to boost NTBFs

SHANA (Tehran) – The chairman of the Innovation and Prosperity Fund announced that new regulations, including the Tech-Based Production Leap Act and the New Technology-Based Firms (NTBFs) Support Act, have been introduced to support these businesses.

Support for NTBFs should adopt non-governmental approach

SHANA (Tehran) – The deputy of development at the Innovation and Prosperity Fund emphasized the importance of a technology-based economy in the country’s development and the fund’s increased capital, stating that support for new technology-based firms (NTBFs) should adopt a non-governmental approach and utilize modern financing tools.

NIOC head:

Supporting domestic firms ensures future of oil industry

SHANA (Tehran) – The CEO of the National Iranian Oil Company (NIOC) emphasized the importance of supporting domestic manufacturers in the oil industry, stating that such efforts not only drive industry growth but also serve the nation by advancing economic goals and self-sufficiency. 

Innovation and Prosperity Fund:

NTBFs could lead petrochemical industry innovation

SHANA (Tehran) – The head of the Innovation and Prosperity Fund emphasized that new technology-based firms (NTBFs) can utilize tax incentives to become a driving force for innovation in major industries like petrochemicals.