The agreement was signed today (Wednesday, October 9, 2019) by Gholamreza Manouchehri, CEO of OIEC, and Hussein Shahriari, managing director of POGDC.

Manouchehri said signing of the MOU was aimed at examination of the areas of cooperation and devising a framework for partnerships in upstream and downstream projects, as well as planning for joint activities in Khami Layer and Siraf Refining Scheme.

According to him, POGCD would serve as the investor and OIEC the executor and contractor of the projects.