Philippine Firm to Carry Out Studies on 2 Iranian Oil Fields

TEHRAN (Tasnim) – The Philippine National Oil Company (PNOC) signed an initial agreement with the National Iranian Oil Company (NIOC) to carry out studies on development of two oil fields in Iran.

Philippine Firm to Carry Out Studies on 2 Iranian Oil Fields

Iran and the Philippines signed a memorandum of understanding (MoU) whereby PNOC will carry out preliminary studies over Pazanan and Darkhowin oil fields in Iran within seven months, Shana news agency reported on Saturday.

Pazanan and Darkhowin are located in southwest and south of Iran, respectively. 

During the signing ceremony, the managing director of PNOC called the agreement between the two sides a major event in the company's history.

The document was signed on the sidelines of the 22nd Iran International Oil, Gas, Refining and Petrochemical Exhibition underway in Tehran.

The International exhibition, also known as Iran Oil Show, kicked off in the Iranian capital on Saturday with more than 4,000 domestic and foreign companies showcasing their latest technical achievements.

Countries such as China, Germany, France, Italy, Spain, Turkey, Russia, Japan, the Netherlands, Austria, South Korea and Australia have their own pavilions in the Iran Oil Show.

Major foreign exhibitors include Wintershall Holding GmbH (Germany), Siemens (Germany), Lukoil (Russia), OMV (Austria), and ONGC (India).

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