Gazprom and National Iranian Oil Company (NIOC) have signed a Memorandum of Understanding (MoU) in Moscow recently.
The signing ceremony took place in the presence of Vladimir Putin, President of the Russian Federation, and Hassan Rouhani, President of the Islamic Republic of Iran.
In accordance with the document, the parties will examine the avenues for cooperation in the field of hydrocarbon prospecting, exploration and production within Iran.
NIOC, a wholly-owned subsidiary of Iran’s Ministry of Petroleum, is focused on geological exploration, production, transportation and exports of crude oil, as well as geological exploration and production of natural gas.