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EghtesadOnline: National Iranian Oil Company (NIOC) and Norway's ORG signed a memorandum of understanding (MoU) on Wednesday to broaden their mutual cooperation.

As per the MoU, the Norwegian company is to start study on Sardar-Jangal Oilfield and exploration blocks of 24, 26 and 29 in Caspian Sea, IRNA reported.

Deputy Minister of Petroleum for international and commercial affairs Amir Hossein Zamani-nia said in the ceremony that most of Iran's oil industry activities concentrated in south of the country and expressed the hope that cooperation between NIOC and Khazar Oil Company and Norway's ORG would lead to fruitful results in direction of expanding the area of exploration and development activities in Caspian Sea (Khazar Sea).

He added that the MoU indicates reciprocal confidence of the both sides and expressed the hope that the cooperation would lead to consolidated and effective operations in the Caspian Sea.

Deputy Petroleum Minister for development and engineering affairs Gholamreza Manouchehri pointed to experiences and background of Norway activities in the field of exploration and development in the sea and expressed the hope that the MoU would result to long-term and effective cooperation between the two sides.

Manouchehri said that development activities in the Caspian Sea needs modern technologies and expressed the hope that continuation of cooperation between Iran and Norway helps transfer of know-how into Iran.

Norway Ambassador to Tehran Lars Nordrum also pointed to activities background of Norwegian companies in oil and gas fields, and said that according to the MoU the ORG is to begin its study works in this field.

He said that cooperation with Iran and signing the MoU is among achievement of the nuclear deal, adding that structure of the Caspian Sea lets Norway to increase its cooperation with other Caspian Sea littoral states.

Managing Director of Caspian Sea Oil Company Mohsen Delaviz pointed to positive viewpoint of Petroleum Ministry and NIOC for exploration and development activities in the Caspian Sea, and said that results of the study will complete NIOC data and information in this sector.

On the behalf of NIOC Mohsen Delaviz and Jostein Kare Kjerstad as representative of Norway ORG signed the MoU.


NIOC Iran oil National Iranian Oil Company Norway ORG