The MOU was singed between Gholam-Reza Manouchehri, deputy head of NIOC for development and engineering, and Behzad Mohammadi, CEO of OIEC.
OIEC is among 11 E&P companies qualified by NIOC to operate projects in upstream oil sector.
Meanwhile, NIOC signed a separate MOU with MAPNA power project company for studies on Ab Teimour and Mansouri oil fields.
MAPNA chief Abbas Ali-Abadi said at the ceremony that the company had operated projects valued at more than $50 billion.
He cited MAPNA’s $2bn projects in Iraq, saying that the company had been involved in South Pars gas field development.
Manouchehri said Ab Teimour could see its production from the current 50,000 b/d to at least 150,000 b/d, adding that there have been proposals for bringing its output to 450,000 b/d.
Regarding Mansouri, he said that the field could raise its output to 300,000 b/d from the current 60,000 b/d.