On the occasion of the opening of the Oil Ministry Innovation and Technology Park, an agreement was signed between Isfahan Science and Technology Town (ISTT) and Oil Industry Innovation and Technology Park on establishing a joint campus for research and development of petroleum industry.

In line with the ISTT’s potentials and research capabilities for key industries especially oil and gas industries, this agreement was signed emphasizing on innovation, entrepreneurship and successful commercialization.

Today ISTT is home to over 80 oil companies of which 21 companies are machinery manufactures and 35 companies directly work with oil industries.

The objectives of this five-year plan are as follows:

Establishing 80 enterprises in oil and gas manufacturing industries
Increasing the number of the companies active in the field of oil industry to 200
enterprises
Producing and commercialization of 1000 knowledge and technology-based products
and services
Creating 4000 job opportunities for oil and gas industry graduates