Russia’s Zarubezhneft Oil Company has signed a memorandum of understanding (MoU) with the National Iranian South Oil Company (NISOC) for studying Iran’s Shadegan and Rag Sefid oilfields.
Hamid Deris, NISOC’s director of technical affairs, and Zarubezhneft’s director of fields development and investment signed the deal on Monday.
Based on the document, the Russian company has agreed to hand over the result of its studies over development of the two oilfields to NISOC in 9 months.
This is the 8th such document NISOC has signed with a company for carrying out studies over oil and gas fields in southern provinces of Iran.
Rag Sefid is being operated by Aghajari Oil and Gas Production Company and produces oil from its Asmary and Bangestan reservoirs but its Khami reservoir has not been developed.
Shadegan Oilfield is also being operated by Maroon Oil and Gas Production Company.