Italy’s oil giant Eni has signed a Memorandum of Understanding (MoU) with the National Iranian Oil Company (NIOC) to carry out initial studies on the development of an oil field and a gas field in Iran, a report said.
Eni and NIOC inked the agreement on Tuesday in Tehran whereby the Italian firm will study the Kish gas field and the third phase of the Darkhovin oil field for development in southern Iran, Shana reported.
Eni has six months to present the results of its studies.
“The agreement with NIOC does not include any commitment to invest,” an Eni spokesman said on Tuesday, according to Reuters.
State-controlled Eni, which entered Iran in the 1950s, was involved in the development of the Darkhovin field and the offshore South Pars gas field before US-led sanctions against Tehran stopped oil majors investing.
Eni was given a special dispensation to recoup investments in the country by taking Iranian oil by way of payment.
“The (Tuesday) agreement sets out conditions for recouping outstanding payments of $280 million still owed Eni for previous investments,” the Eni spokesman said.
Eni CEO Claudio Descalzi has previously said the group would start working again in Iran when investments were repaid and the type of contracts offered by Tehran known.
(Source: Tasnim, under Creative Commons licence)