Under the terms of the deal, the two sides will cooperate on a variety of issues including realization of general policies of the Islamic establishment, going ahead with the resistance economy policies, meeting mutual needs and boosting technological capabilities of the country.

The 10-articles memorandum also covers issues like cooperation in doing research and deployment of new nuclear technologies such as using rays in oil, gas, refining and petrochemical sectors as well as facilitating providing services and products.

The document was signed by Atomic Energy Organization of Iran’s deputy for strategic planning and supervision, Mohammad Ghannadi Maraghe and the deputy Minister of Petroleum for Engineering and Research, Vahidreza Zeidifar, on behalf of the Petroleum Ministry.  

The two sides also reached an agreement to establish a strategic committee, comprising the two sides' representatives, in order to facilitate and accelerate implementation of the MoU’s contents and take other necessary steps with regard to enforcement of the document.