The OMV Group, Petrom’s majority shareholder, and the National Iranian Oil Company (NIOC) signed in Tehran a series of agreements regarding the joint exploration of certain oil blocks in Iran, writes Agerpres.

The two companies signed a memorandum of understanding regarding the evaluation of certain oil blocks, from the Zagros region, in Western Iran. At the same time, the document also aims to create technological research cooperation and to exchange oil and oil products.

“The MoU is an important step for OMV to resume their activities in Iran and continue the long-term cooperation with NIOC, amid the positive experience that we had in the past in this country. We look forward to evaluate the opportunities that OMV has in Iran and to assess whether there is potential for the exploration and production of oil and gas”, said the general manager of OMV, Reiner Seele, quoted in OMV press release.

In addition, the two companies signed an agreement for the evaluation of the hydrocarbon potential from the Fars region, for which a two-year program has been approved.