TEHRAN (PEDCO) -- Petroiran Development Company (PEDCO) and Radiation Application Development Company, a subsidiary of the Atomic Energy Organization of Iran, have inked a collaboration agreement aimed at broadening cooperation fields given their specialized, managerial, and executive capabilities.
As reported by Public Relations and International Affairs of PEDCO, this agreement, seeking to provide the necessary framework for joint cooperation, focuses on leveraging the capacities of both parties in mutually agreed projects.
It encompasses areas such as exploration, nuclear well logging equipment manufacturing, pump and centrifuge manufacturing, NORM (Naturally Occurring Radioactive Materials), training, radiation safety and protection, environmental conservation, waste management, and enhancing oil and its derivatives' productivity and extraction for technological needs in the oil industry.
The agreement was signed by Mansour Mehrshad, PEDCO CEO, and Seyed Pejman Shirmardi, the Deputy of the Atomic Energy Organization and CEO of Radiation Application Development.
Mansour Mehrshad, introducing PEDCO’s achievements and functions, stated, "The PEDCO Group, with a 26-year track record in executing large projects as the National Iranian Oil Company's arm in the E&P sector, has been successful.
Given the imbalances in the oil and gas sector, our company is now ready to engage in field development projects alongside the National Oil Company.
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He further added, "With National Iranian Oil Company prioritizing the need to increase crude oil production, the utilization of cutting-edge technologies for drilling, well repair, and enhanced oil and gas well productivity is on our agenda.
In this regard, PEDCO aims to play an effective role in this sector.
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Seyed Pejman Shirmardi, the Deputy of the Atomic Energy Organization and CEO of Radiation Application Development, stated, "Considering the continuous advancements in nuclear energy in the country and the necessity to maximize this capability in various industrial sectors, including oil, gas, and petrochemicals, we aim to identify and address the sector's needs through new research in oil, gas, and petrochemicals."
"Our vision is to channel the surplus of nuclear knowledge into the oil industry, considering the economy's oil-dependency, and fulfill some of its needs using nuclear potential," he emphasized.
Shirmardi highlighted Radiation Application Development's specific objectives in the oil industry, mentioning ongoing collaborations with Amirkabir University of Technology, specifically in constructing a physics-based device to enhance oil extraction.
He expressed readiness to mass-produce this device in partnership with Petroiran to meet the country's needs.