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Iran, Russia sign MoU for energy cooperation: official

Xinhua, July 13, 2016 Adjust font size:

National Iranian Oil Company (NIOC) and Russian Zarubej Neft's oil refinery have inked an agreement whereby the Russian side will conduct studies on two Iranian oil fields, Managing director of NIOC, Ali Kardor, said on Wednesday.

Under the agreement, Zarubej Neft will soon offer its proposal on increasing oil recovery from two Iranian oil fields, Iran's Petro-Energy Information Network (SHANA) reported without disclosing the names of the fields.

The Russian side agreed to keep information about the two Iranian fields confidential, said Kardor, adding that Zarubej Neft will only avail the results of its studies to NIOC for further consideration.

The two sides have stressed cooperation in various energy areas including oil swap and trading of the commodity, he added.

Iran is also ready to provide crude oil to Zarubej Neft's oil refinery in Bosnia and Herzegovina, Kardor was quoted as saying. Endit