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EghtesadOnline: National Iranian Oil Company (NIOC) and the Russian Tatneft inked a Memorandum of Understanding (MoU) on development of Iran's Deholoran oil field.

Director General of Tatneft Nail Ulfatovich Maganov referred to the capabilities of his company for doing the project and said that his company is active in various oil industry subsidiaries.

Russian official stated that oil extraction, oil refining, enhanced oil recovery, manufacturing of machinery and equipment are among the expertise of Tatneft, adding Tatneft uses specialized forces and takes advantage of the latest technologies in oil industry, reports ISNA.

He also expressed satisfaction for cooperating with the NIOC, hoping that the agreement would prepare the ground for future cooperation.

Dehloran oil field is 22 km to the southwest of Dehloran city in Iran's Ilam province and contains about five billion barrels of oil reserves.

NIOC Iran-Russia cooperation Iran oil Oil Cooperation Russia oil Tatneft Deholoran