National Iranian Oil Company (NIOC) and the Russian Tatneft signed a Memorandum of Understanding (MoU) here on Saturday for feasibility studies on development of Iran's Deholoran oil field, Iran's Petro-Energy Information Network (SHANA) reported.
Addressing the signing ceremony, Director General of Tatneft Nail Ulfatovich Maganov introduced the capabilities of his company for doing the project and said that his company is active in various oil industry subsidiaries, including the upstream and downstream activities.
Oil extraction, enhanced oil recovery, oil refining, manufacturing of machinery and equipment are among the expertise of Tatneft, Maganov was quoted as saying.
Tatneft uses specialized forces and takes advantage of the latest technologies in oil industry, Maganov said.
He voiced satisfaction for cooperating with the NIOC, expressing hope that the agreement will prepare the ground for future cooperation.
Dehloran oil field is 22 km to the southwest of Dehloran city in Iran's Ilam province and contains about five billion barrels of oil reserves.
--IANS
ahm/
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app