The two sides, which signed the MoU on the sidelines of Iran-Russia B2B meeting in the presence of Iran’s Deputy Oil Minister for International Affairs and Trade Ahmad Asadzadeh, agreed to cooperate in implementing drilling projects, particularly directional drilling, and supplying equipment.

Morteza Pakravan Nouqani, North Drilling Company acting head, said NDCO has considerable experience in offering technical and engineering drilling services, adding, “If Russians are eager to get [our] services, we will draw out contracts and MoUs in the future.”