Iranian, Russian companies agree to develop two oil fields in west of Iran

Iranian company of Oil Industries' Engineering Construction (OIEC) and Russian company of Gazprom Neft signed memorandum of understanding (MoU) with the aim to cooperate in development of oil fields of Azar and Changoleh.

The two companies are going to follow up their cooperation within the framework of new pattern of oil contract.

Managing Directors of the two companies signed MoU on July 27 in Saint Petersburg after finalization of negotiations between technical committees of the two companies.

Azar oil field located in western province of Ilam along border with Iraq and in view of drilling and development is one of the most complicated hydrocarbons field in Iran and the world.

News Code 313151


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