April 12, 2016 / 2:11 PM / 3 years ago

Wintershall confirms signed memorandum of understanding with Iran

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)

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