Tag Archives: Memorandum of understanding (MoU)

Iran needs 200 billion dollar investment to develop oil industry which should be supplied through foreign sources.

Under the terms of the deal. Iran’s Petropars is committed to finance the study phase of the project while Toyo of Japan will undertake financing of its executive phase.

At least nine Russian companies have voiced willingness to help Iran develop its oil and gas fields.

There was no immediate comment from Repsol on whether the MoU'.s focus would be predominantly on oil. or both on oil and gas.

The establishment of joint venture is a follow-up of a MOU for new business opportunities collaboration signed in November 2015 with Saudi Aramco.

ExxonMobil will provide its technical support and expertise to help the parties carry out safe bunkering operations and sell LNG bunker fuel to vessel operators.

In 2013. Vankorneft was chosen as an operator on development of new fields of Vankor Cluster located close to the Vankor field.

Iran needs foreign investment for repairs and upgrading of its oil and gas fields.

Under the sanctions Iran’s oil production was 2.7 million barrels per day. with one million barrels heading for export markets.

The firms include Shell. France'.s Total. Italy'.s Eni. Malaysia'.s Petronas and Russia'.s Gazprom and Lukoil. as well as companies from China. Austria. Japan and other countries.