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LUKOIL, National Iranian Oil Company sign MoU for oil & gas exploration

LUKOIL and NIOC expressed their interest to enhance mutually beneficial cooperation, which implies basin modelling and analysis of the petroleum systems of northwest areas of the Persian Gulf, the Abadan plateau and the South Caspian basin.

By Martin Menachery  
By Martin Menachery  

LUKOIL-Engineering, a LUKOIL wholly owned subsidiary, and National Iranian Oil Company recently signed a memorandum of understanding.

The parties to the memorandum expressed their interest to enhance mutually beneficial cooperation, which implies basin modelling and analysis of the petroleum systems of northwest areas of the Persian Gulf, the Abadan plateau and the South Caspian basin.

For the purposes of the memorandum, LUKOIL-Engi​neering and National Iranian Oil Company will set up exchange of data necessary to study the areas, and establish a joint working group.  

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