EPC and EPD contractshave been drafted so as to be awarded to Iranian contractors. Therefore,
the bulk of equipment and commodities [classified under the 10 groups of basic commodities] would be
purchased domestically. To that effect, we have resolved prepayment problems,” he added.
Zangeneh said the Ministry of Petroleum would prioritize any idea and offer which would provide financing.
Expecting the government to provide any financing would create restrictions,” he added.
Touring Oil Show After his inauguration speechZangeneh visited the 24thInternational Oil, Gas, Refining
and Petrochemical ExhibitionHe said that Iraniancompanies had found the rightpath to go ahead, adding: “Isaw no strategic problem intheir methods“In the previous years, wehad many rounds of talks withthese companies. But afterfive to six years I think theyare going the right way, which
would make them successfulinternationally. What we arecurrently doing is in such
direction,” he addedHe gave a positive assessmentof domestic manufacturing
of petroleum industryequipment, saying: “Domesticcompanies have fortunately
implemented projects to agood level and they werehappy with that. I also sawa bright future for domesticproducers and manufacturersin terms of extent of workZangeneh also touched on mhis ministry’s support forstartups and knowledgebased companies, saying: “During my visits, a numberof companies raised problemslike modifications in theircontracts due to price jumpsand non-consideration ofsuch modifications. This issue