The Russian Energy Company Gazprom signed a memorandum of cooperation with the Iranian National Oil Company (NIOC), Tasnim reports.
Gazprom plans multi-billion dollar investments in Iranian oil and gas sector. According to the Executive Director of Nioc Mokhsen Khojastememakhr, the companies agreed to conduct the joint development of the Northern Pars deposit and the deposits in the area of the Iranian Island of Kish.
The Russian side promised to invest about $ 10 billion. Mohsen Khojastememhr called this “the largest foreign investments in the history of the Iranian oil industry”.