Gazprom and National Iranian Oil Company ink Memorandum of Understanding

RELEASE

Gazprom and National Iranian Oil Company signed a Memorandum of Understanding in Moscow today.

The signing ceremony took place in the presence of Vladimir Putin, President of the Russian Federation, and Hassan Rouhani, President of the Islamic Republic of Iran.

In accordance with the document, the parties will examine the avenues for cooperation in the field of hydrocarbon prospecting, exploration and production within Iran.

Background

National Iranian Oil Company, a wholly-owned subsidiary of Iran’s Ministry of Petroleum, is focused on geological exploration, production, transportation and exports of crude oil, as well as geological exploration and production of natural gas.