The MoU was signed by the CEO of National Iranian South Oil Company Bijan Alipour and the deputy head of Zarubej Neft in Tehran on Monday.
Based on the agreement, Zarubej Neft should present its plan to develop the oil fields within 9 months.
Iranian Deputy Oil Minister Hossein Zamaninia said in June that several Russian companies have voiced willingness to take part in the development of nine oil and gas fields of Iran.
“At least nine Russian companies have voiced willingness to help Iran develop its oil and gas fields,” Zamaninia said.
In a forum in St. Petersburg, Iran and Russia signed a roadmap for cooperation in the energy sector which aims at creating preferential terms for joint venture projects between the two countries.
“One major issue discussed at the Forum pertained to impacts of energy sector on the environment and the balance between the two,” Zamaninia said, adding, “A new issue discussed at SPIEF 2017 was the role played by oil and gas, as fossil energies, after the year 2050.”