Iran, Russia sign initial agreement for oil field studies

Russia’s Gazprom Neft and National Iranian Oil Company (NIOC) signed a memorandum of understanding on Tuesday for feasibility studies on development of two oil fields, Iran’s oil ministry news agency SHANA said.

Gazprom will study both Changouleh and Cheshmeh-Khosh oil fields in Western Iran.

Russian Energy Minister Alexander Novak and his Iranian counterpart, Bijan Namdar Zanganeh, were present at the signing ceremony in Tehran.