The Innovation and Flourishing Fund of the Presidential Office has initiated programs to financially support innovative technologies in the oil industry, aiming to collaborate with knowledge-based companies. These collaborations are aimed at improving the performance of low-yield wells and increasing the country's oil production capacity.
Collaboration with Knowledge-Based Companies
Reza Ghorbani, the Deputy for Innovation and Technology Development of the Innovation and Flourishing Fund, announced that initial actions have been taken in some technology areas, and memorandums of understanding have been signed with knowledge-based companies. He emphasized that collaboration between the Innovation and Flourishing Fund and the Technology and Innovation Park of the oil industry can help identify and introduce active companies in this field.
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Ghorbani added: "The goal is to create interaction between the two entities to pave the way for new collaborations and targeted support for the technologies needed in the oil industry." This type of collaboration can lead to increased productivity and reduced production costs in the oil industry.
The Necessity of Revising the Support Model for Well Revitalization Technologies
The Deputy for Innovation and Technology Development of the Innovation Fund pointed to the necessity of revising the support model for low-yield well revitalization technologies, stating: "In the year 1403, after the government change, multiple meetings have been held to reach a coherent framework for implementing this plan."
Ghorbani clarified that the mission of the fund is technology development, and although economic profit is not the main criterion, projects must be economically viable. He noted that the collaboration model should be adjusted so that large companies also have the incentive to participate in this area.
He said: "The intended models include that small companies, after proving their technology and operating a pilot, enter the well service chain or their technology is purchased and commercialized by larger companies."
Continuous Rail Laying for Technology Commercialization
Ghorbani continued that currently, it is being examined how projects can be re-executed with a more professional framework and in line with technology commercialization principles. He emphasized that the goal is to create continuous rail laying so that new technologies are consistently introduced into the oil industry and reach the commercialization stage.
The Deputy for Innovation and Technology Development of the Innovation and Flourishing Fund also referred to utilizing the capacity of venture capital companies and research and technology funds for financing. He said: "We are ready to interact with the research and technology fund of the oil industry or any other fund that the Technology and Innovation Park of the oil industry deems appropriate."
Ghorbani concluded by noting that forming an investment portfolio from several companies or technological projects can help distribute risk and target financial resources. This model can enhance the possibility of financing technological projects in the oil industry and increase its impacts in the country.
