The National Iranian Oil Company (NIOC) recently initiated its first cooperative effort in the energy industry by signing a memorandum of understanding (MOU) with German company Wintershall, a subsidiary of BASF.
The MOU allows Wintershall to conduct a study on the upstream investment opportunities in the nation’s oil industry. The MOU was signed by NIOC CEO Roknoddin Javadi and Wintershall CEO Mario Mehren.
The MOU said NIOC and Wintershall will exchange the necessary data over the course of two months, while Wintershall will take six months to conduct its study.
National Iranian Oil Company, Germany's Wintershall agree to share data
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