FRANKFURT, April 12 (Reuters) - BASF’s Wintershall oil and gas exploration subsidiary has signed a memorandum of understanding (MOU) with the National Iranian Oil Company (NIOC), it said on Tuesday, confirming a media report.
“In order to prepare for possible further activities in the region, Wintershall recently signed an MOU with NIOC about a potential future cooperation,” the Kassel, Germany-based firm said in a statement.
Details were subject to confidentiality, it said.
Iranian news agency Shana had said the two companies wanted to study four oil fields in western Iran.
Wintershall has been saying for a while that it is eyeing developments in Iran with interest, where international sanctions have been lifted and which is seeking foreign investment. (Reporting by Vera Eckert; Editing by Arno Schuetze)