IRNA/ Iran, Azerbaijan sign MoU on development of oil fields


SHAFAQNA (Shia International News Association) – Iran’s Research Institute of Petroleum Industry (RIPI) and the State Oil Company of Azerbaijan Republic (SOCAR) on Sunday signed a memorandum of understanding on development of oil fields, oil extraction and environmental activities.

Director of RIPI’s department of technology and international affairs Amir-Abbas Hosseini said the agreement was centered on Caspian Sea resources.

Given the concerns of both sides regarding environmental pollution of the Caspian Sea, environmental activities were another important part of the agreement, Hosseini said.

Hosseini added that SOCAR is very eager to make use of experiences of Iran’s Research Institute of Petroleum Industry in the area of nanotechnology.



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