Russia’s Zarubezhneft to start studies on two Iranian joint oil fields

Oil&Gas Materials 13 July 2016 13:51 (UTC +04:00)

Tehran, Iran, July 13

By Mehdi Sepahvand – Trend:

The National Iranian Oil Company and Russia’s state oil company Zarubezhneft have signed a memorandum of understanding (MOU) under which the Russian company will carry out a series of studies on two Iranian shared oil fields Paidar Gharb and Aban.

According to the MOU, which was accompanied by a confidentiality pact, Zarubezhneft will offer its proposals on improving the fields’ recovery factors, SHANA news agency reported July 13.

Iran shares the two oil fields with Iraq.

After the signing ceremony, National Iranian Oil Company CEO Ali Kardor said Iran is ready to feed a Zarubezhneft refinery in Bosnia and Herzegovina.

He said the two sides also discussed the swap of crude and oil products.