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Shell to study productivity of Iran's oil fields

Xinhua, December 8, 2016 Adjust font size:

Royal Dutch Shell signed a memorandum of understanding (MoU) with the National Iranian Oil Company (NIOC) here on Wednesday to conduct studies on Iran's Azadegan, Yadavaran and Kish oilfields, Iran's Petro-Energy Information Network (SHANA) reported.

Noureddin Shahnazizadeh from NIOC and Hans Nijkamp from Shell inked the deal in the presence of NIOC managing director Ali Kardor.

Based on the cooperation document, Shell will assess development projects of the fields, the report said without further elaboration.

Last month, the NIOC and a consortium involving France's Total, China National Petroleum Corporation and Iran's Petropars signed a major deal worth 4.8 billion U.S. dollars to develop the second phase of the country's South Pars gas field in the Persian Gulf region.

A nuclear agreement, reached between the world powers and Iran in July 2015 and implemented in January, has led to the lifting of most if not all international sanctions against Iran's energy and financial sectors, thus raising its hopes to reengage in the global economy and attract foreign investments. Endit