Baku, Azerbaijan, March 7
By Fatih Karimov - Trend:
Iran's Research Institute of Petroleum Industry and France's Total agreed to cooperate in the research and technological services area, Iranian oil ministry's official SHANA news agency reported March 7.
Following several rounds of talks regarding mutual cooperation and using the two sides' capabilities in the areas of research and technology, the two parties reached an agreement on the issue.
Total should pick an Iranian partner for projects which will be carried out in Iran, based on a memorandum between the French company and the National Iranian Oil Company (NIOC).
In recent days officials from Total visited Iran and were informed about the capabilities and achievements of the Iranian research center.
Total and NIOC will sign a confidential disclosure agreement in the coming days in order to develop South Azadegan oilfield, which is shared with Iraq.
The oilfield is projected to produce 320,000 barrels per day (bpd) of crude oil in the first phase of its development.