Austria's OMV signed a memorandum of understanding for the development and redevelopment of oil and gas projects in Iran with Tehran-based Dana Energy, OMV said on Jan. 25 without giving details.
OMV started operations in Iran in 2001 as the operator of the Mehr exploration block in the west of the country, but halted operations in 2006 due to sanctions being imposed on Iran.
In May 2016, it signed a memorandum with the National Iranian Oil Co. for projects located in the Zagros area in western Iran and the Fars Field in the south of the country, where foreign companies often need a local partner to operate.
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