Iran signs oil deals with two Russian firms

Iran signs oil deals with two Russian firms

Iran has signed seven new initial agreements with foreign oil companies, the managing director of the National Iranian Oil Company (NIOC), Ali Kardor, said.

The contracts to study Iranian oilfields were signed with firms including Austria's OMV, France's Total, Germany's Wintershall, Indonesia's Pertamina, Russia's Lukoil and Zarubezhneft, he said.
 
Iran needs foreign investment to repair and upgrade its oil and gas fields and is also seeking the transfer of technology to its oil industry after a decade of isolation, Reuters reports.

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