TEHRAN (Shana) -- The director of exploration at the National Iranian Oil Company (NIOC) announced the completion of negotiations for oil and gas exploration with three foreign countries.

According to the NIOC, Mehdi Fakur said on Wednesday: “Increasing cooperation in the field of exploration is one of the most important goals of energy diplomacy, which is being followed up by NIOC.”

He added: “Currently, 11 main projects with 300 sub-projects have been defined in the exploration department of the NIOC, most of which being focused on study and research activities.”

While appreciating the support of the CEO of the NIOC and the Minister of Petroleum for exploration of oil and gas, the director of exploration of the NIOC said: "In terms of budget allocation, we are at a high level, so that for the first time we were able to receive the second rank of financial resources in the field of drilling among the subsidiaries and departments of the NIOC.”