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NIOC Seals Oilfield Study MoU with Iranian Firm

(Wednesday, April 19, 2017) 12:03

TEHRAN, Apr. 19 (Shana) -- The National Iranian Oil Company (NIOC) has signed a memorandum of understanding (MoU) with Ghadir Investment Company (GIC) for carrying out studies over oil and gas fields in Iran.

Based on the deal, the latter with carrying out studies over Kisha, Sepehr, Jofeir and phase III of Darkhowin oil and gas fields. 

The two companies signed the deal Wednesday morning. 

Based on the document, GIC will have 6 months to hand in the result of its studies over the fields to NIOC. 

NIOC has already signed similar documents with a number of other companies including Royal Dutch Shell for studying Kish gas field and Pasargad Gostaresh Energy Company for Jofeir and Sepehr oilfields.