Iran to sign deal for oil exploration in Khouzestan

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Tehran

Iran’s media are reporting that Italy’s oil and gas giant Eni is preparing to sign a basic agreement to study two Iranian oil and gas fields.
Iran’s English-language newspaper The Financial Tribune reported that the agreement – a memorandum of understanding – would be signed between Eni and the National Iranian Oil Company (NIOC) on Tuesday.
It added that the agreement would give Eni six months to study Kish gas field in the Persian Gulf and also Darkhovin oil field in the southwestern province of Khouzestan.
Italy’s biggest oil and gas firm hopes to pick up where it left off in the Darkhoveyn project, added The Financial Tribune. It completed the first and second development phases of the oilfield under a $550 million contract it had signed in 2001.
Eni was involved in the development of several oil and gas projects in Iran before a series of US-led sanctions barred international oil corporations from investing in the country. —Agencies