SHANA - Iranian Minister of Petroleum Bijan Zangeneh says Iranian manufacturers can supply up to 65 percent of the equipment used for building a refinery.

Speaking in a televised interview on Thursday night, the official said the National Iranian Oil Company (NIOC) has signed a €556-million contract with a consortium of Spain’s Tubacex and Foolad Isfahan Company for the supply and construction of Corrosion Resistant Alloy (CRA) pipes.

“By implementation of this contract, Iran will join the four or five countries in the world and be the only country in the region that can produce CRA pipes which brings value-added and employment,” the official added.

He underlined local supply of well-head equipment, downhole strings, drilling rigs as other widely-used petroleum products, adding several companies were active in the field of wellhead equipment manufacturing so there was no need to purchase them from outside of the country.

"We do not dictate to Iranian and foreign companies who to partner with; rather they themselves find their desirable partner,” he added, noting that foreign companies would need to find an Iranian partner in order to thrive in the Iranian market.

“Today, over 65 percent of the equipment used in a refinery are literally supplied domestically,” he added. “The greater the figure, the more jobs and capabilities are generated.”