The National Iranian Oil Company (NIOC) and Polish Oil & Gas Company (PGNiG) have signed a Memorandum of Understanding (MoU) under which the Polish company will study the Sumar oil field.
Signatories to the MoU were the NIOC Deputy Chief for Development and Engineering Affairs Gholam-Reza Manouchehri and Managing Director at Polish Oil & Gas Company (PGNiG), Piotr Wozniak.
Manouchehri expressed hope that inking of the MoU will result in more engagement between the two sides.
He said the Polish party will have a six-month deadline to complete the study on the field and provide the NIOC with the result.
He went on to say that final decision on development of the field will be made once the studies are complete and the main strategy of the NIOC is to offer the project for development of the field through a tender.
Wozniak for his part said his company is well experienced in the field and hoped for good cooperation with the NIOC.