Home | BUSI-MESS | Russian, Austrian Gas Giants Sign Deal with NIOC to Study Iran’s Oil Fields

Russian, Austrian Gas Giants Sign Deal with NIOC to Study Iran’s Oil Fields

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TEHRAN (Tasnim) – National Iranian Oil Company (NIOC), Russia's Gazpromneft, a main subsidiary of global gas giant Gazprom, and the Austrian utility group OMV will jointly study two oil fields in Iran, a report said.

According to the report carried by the Tass news agency on Friday, Gazpromneft and OMV signed the relevant memorandum of understanding at the St. Petersburg International Economic Forum.

"The company is already implementing a large project to develop the Badra field in Iraq, it is engaged in geological exploration in the Kurdish Autonomous Region of that country and is studying the possibility of participating in the development of two blocks in Iran. Taking into account the extensive experience of OMV activities in the Middle East and, in particular, in Iran, I am sure that joint geological assessment of assets will be most effective," first deputy general director of Gazpromneft, Vadim Yakovlev, said.

The document, in particular, fixes the interest of Gazpromneft and OMV in joint work on the territory of Iran. The area of possible cooperation includes preliminary analysis, assessment and study of oil fields located on the territory of Iran in cooperation with the National Iranian Oil Company (NIOC).

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