Russian Tatneft signs MoU with Iran

Russian Tatneft signs MoU with Iran

Following two earlier contracts with two Russian oil companies, Iran has signed a memorandum of cooperation in oil and gas industry with a third Russian firm, Mehr news agency reports.

Following comprehensive negotiations with Lukoil over development of joint oilfields in western Iran and the signing of a confidentiality agreement with the Russian firm, the National Iranian Oil Company (NIOC) has inked an MoU with Tatneft of Russia.

Accordingly, on Saturday morning, NIOC Managing Director Ali Kardor and CEO of Tatneft Nail Ulfatovich Maganov signed the deal to conduct developmental studies in Dehloran oil field.

The agreement marks the first contract signed between NIOC and the Russian firm and it mainly deals with increasing recovery factor of the Iranian field.

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