LONDON—The National Iranian Oil Company (NIOC) and Russian gas producer Gazprom signed on Tuesday a memorandum of understanding worth around $40 billion, Iran’s oil ministry’s news agency SHANA said.
The deal was signed during an online ceremony by the CEOs of both companies on the day Russian President Vladimir Putin arrives in Tehran for a summit with his Iranian and Turkish counterparts.
Gazprom will help NIOC in the development of the Kish and North Pars gas fields and also six oil fields, according to SHANA. Gazprom will also be involved in the completion of liquefied natural gas (LNG) projects and construction of gas export pipelines….