The purpose of signing the MoU is to develop the Shadegan and Rag-e Sefid fields in southern Iran, according to ISNA.
It was inked by the National Iranian South Oil company technical director and the Zarubezhneft director of development and investment sector.
According to the MoU, the Zarubezhneft will conduct a study within a 9 month period and will propose its plans to develop the oil output of the fields.