Interfax reported that Gazprom Neft has signed a memorandum of understanding with National Iranian Oil Company on cooperation in the development of the Azar and Shangul oil fields.

According to the report, the companies will start contract talks once Gazprom Neft has completed a feasibility assessment.

Mr Alexander Dyukov CEO of Gazprom Neft said "We're keen to cooperate with NIOC and consider that the understandings reached with our Iranian colleagues hold promise. Staring work in Iran would be a significant step towards strengthening Gazprom Neft foothold in the international markets."

(Sourced from Interfax)