On the third day of the exhibition, Paya Petro Technology and PEDEC (Petroleum Engineering and Development Company, NIOC subsidiary) signed an MOU for the provision of MPFM services and pilot field tests in the west Karoon oil fields, southwest Iran.

The agreement was signed by Abouzar Sharifi, PEDEC’s CEO, and Omid Khayat, PETROYATECH’s Managing Director, in Tehran on Sunday, May 15^th, 2022. According to the terms of this MoU, PETROYATECH will leverage the capabilities of its reliable, safe, ready-to-deploy, and innovative technology, VG MPFM, for real-time monitoring of well and field performance, production optimization, and cost reduction through an informed decision-making process.