Iran signed a preliminary agreement with Shell on Wednesday to work towards developing major oil and gas fields as it seeks to boost its output.
The deals open the way for Shell to carry out assessments at the South Azadegan and Yadavaran oil fields, both in southwestern Iran, as well as an offshore gas field near Kish Island in the Gulf.
Hans Nijkamp, a vice-president at Shell, said the deal “opens a new chapter” for the Anglo-Dutch company in Iran.
“International markets remain under pressure but the Islamic republic’s return brings stability for the world’s energy provision as well as the country’s economic health,” he said at the signing ceremony.
Source: AFP
