Baku, Azerbaijan, Aug. 8
By Emil Ilgar – Trend:
Iran’s Ghadir Investment Company, Russian Zarubezhneft and Turkish Unit International signed a memorandum of understanding (MoU) on joint investment in oil and projects, both in Iran and abroad, Aug. 8.
Each company, mentioned above, would have equal stake in the future joint projects, official website of Oil Ministry reported Aug. 9.
This is Iran’s first trilateral MoU with foreign companies on oil project investments.
Prior to this, Iran has signed a contract with a consortium, composed of French Total, Chinese CNPC and local Petro Pars to develop the 11th phase of South Pars gas field. Nonetheless, this is the first time that Iran signs a trilateral MoU on investments with any foreign company.
Ghadir Investment Company has already signed MoUs with Iran to study third phase of Darquin, Sepeher and Jofeir oil fields, as well as Kish gas field.
Zarubezhneft also has two MoUs with Iran for reconnaissance of Aban and West Paydar oil fields.