Signed in Moscow on Monday,
the deal concerns development of oil and gas projects in or outside of Iran.
Based on the agreement, the
three companies will form joint ventures to finance oil and gas development
Ghadir Exploration and Production
Company will lead the consortium in which each member has equal shares for financing projects.
The agreement allows the
three partners to join the oil and gas projects proposed by each one.
The companies have also
agreed to carry out technical and economic activities over the projects
The deal is remarkable as it
is the first such documents signed between and Iranian company and foreign partners.
GIC has been named as an eligible
Iranian investment company for developing oil and gas projects.
The company has signed deals
with the National Iranian Oil Company (NIOC) for carrying out feasibility
studies over projects like phase III of Darkhowin oil project as well as
Sepehr, Jofeir and Kish gas field.