07.11.2016 PGNiG and National Iranian Oil Company sign memorandum of understanding
On November 5, 2016 in Teheran PGNiG POlish Oil & Gas Company and the National Iranian Oil Company signed a memorandum of understanding about cooperation on Soumar oilfield. Geological resources of Soumar comprise about 475 million oil barrells. Following a geological and resource analysis that could take up about six months PGNiG will decide on potential investment.
On November 5, 2016 in Teheran PGNiG POlish Oil & Gas Company and the National Iranian Oil Company signed a memorandum of understanding about cooperation on Soumar oilfield. Geological resources of Soumar comprise about 475 million oil barrells. Following a geological and resource analysis that could take up about six months PGNiG will decide on potential investment.
– We consider Soumar ledge to be very promising, and returning to cooperation with NIOC opens new exploratory opportunities – commented Piotr Woźniak, President of the Management Board at PGNiG SA.
Renewing of cooperation with NIOC comes after six-year break. In 2008-2010 PGNiG cooperated with Iranian Offshore Oil Company (IOOC) which is a subsidiary of NIOC. The cooperation related to natural gas resources in Lavan. In 2003-2007 works for NIOC were carried out by Geofizyka Toruń – a subsidiary of PGNiG.
