Iranian, Italian Firms Sign Deal on Advanced Oil Valves
TEHRAN (Tasnim) – Italian companies attending a major oil exhibition in Tehran signed a contract with the Society of Iranian Petroleum Industry Equipment Manufacturers (SIPIEM) on Friday on the advanced valves used in the oil industry.
The contract will let the Iranian firms have access to the cutting-edge technology for producing oil industry valves.
Italian companies have strong presence in the 21st edition of Iran’s International Oil, Gas, Refining and Petrochemical Exhibition that kicked off in Tehran on Thursday.
Around 1,900 Iranian and foreign companies are attending the event, a major exhibition in Iran and the Middle East.
This year’s exhibition comes against the backdrop of growing international interest in cooperation with Iran after implementation of the Joint Comprehensive Plan of Action (JCPOA), a lasting nuclear agreement between Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany).
The nuclear deal terminated anti-Iran sanctions when it came into force on January 16.
