Germany's large crude producer inks MoU with Iran's NIOC
Baku, Azerbaijan, April 12
By Farhad Daneshvar - Trend:
An official with Wintershall Holding, Germany's large crude oil and natural gas producer, has confirmed that the German company reached a memorandum of understanding with the National Iranian Oil Company (NIOC) about a potential future cooperation.
"Wintershall has been active in the Middle East for years. We are therefore closely following the developments in the region, also in Iran. We strictly follow all national and international legal regulations. In order to prepare for possible further activities in the region, Wintershall recently signed a Memorandum of Understanding (MoU) with the National Iranian Oil Company (NIOC) about a potential future cooperation. Details of the MoU are subject to confidentiality," Stefan Leunig Head of Media Relations in Wintershall told Trend.
Earlier on April 12, SHANA, Iran's oil news agency, reported that Wintershall NIOC) have signed a memorandum of understanding for cooperation in research and development (R&D).
Under the MOU, over the next month the companies will exchange data and then the German company will study four reserves in western parts of Iran, SHANA reported.
Wintershall which is a is a subsidiary of BASF, a leading chemical producer, has never been involved in oil business in Iran.