Petronas hopes to grow further in the Middle East through the signing of the latest MoU.
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) signed a memorandum of understanding (MoU) with National Iranian Oil Co (NIOC) on Wednesday to collaborate in a field study in South Azadegan and Cheshmeh Khosh.
The signing took place at NIOC’s central headquarters in Tehran, Iran, said Petronas in its statement.
Under the MoU, a study would be conducted for a period of six months, to be concluded in the second quarter of 2017.
Executive vice president and chief executive officer of upstream, Anuar Taib, signed on behalf of Petronas while NIOC was represented by deputy managing director in engineering and development, Dr Gholamreza Manouchehri.
“We would like to thank NIOC for the opportunity as this MoU is an important milestone for both Petronas and NIOC.
“Iran has provided an opportunity for growth in the Middle East beyond our current footprint in Iraq,” said Anuar during the ceremony.
He added Petronas would bring its capabilities and expertise in oil and gas to Iran and looked forward to a successful partnership with NIOC. - Bernama