BASF's Wintershall oil and gas exploration subsidiary has signed a memorandum of understanding (MOU) with the National Iranian Oil Co. (NIOC), it said on April 12, confirming a media report.
"In order to prepare for possible further activities in the region, Wintershall recently signed an MOU with NIOC about a potential future cooperation," the Kassel, Germany-based firm said in a statement.
Details were subject to confidentiality, it said.
Iranian news agency Shana had said the two companies wanted to study four oil fields in western Iran.
Wintershall has mentioned it is interested in developments in Iran, where international sanctions have been lifted; Iran is seeking foreign investment.
Recommended Reading
SLB’s ChampionX Acquisition Key to Production Recovery Market
2024-04-19 - During a quarterly earnings call, SLB CEO Olivier Le Peuch highlighted the production recovery market as a key part of the company’s growth strategy.
PHX Minerals’ Borrowing Base Reaffirmed
2024-04-19 - PHX Minerals said the company’s credit facility was extended through Sept. 1, 2028.
BP Restructures, Reduces Executive Team to 10
2024-04-18 - BP said the organizational changes will reduce duplication and reporting line complexity.
Matador Resources Announces Quarterly Cash Dividend
2024-04-18 - Matador Resources’ dividend is payable on June 7 to shareholders of record by May 17.
EQT Declares Quarterly Dividend
2024-04-18 - EQT Corp.’s dividend is payable June 1 to shareholders of record by May 8.