OMV signs MoU with Iran’s Dana Energy

Iran

VIENNA, January 25, 2017 – Austria’s OMV has signed an memorandum of understanding (MoU) with Iran’s Dana Energy for co-operation on upstream projects.

The deal was signed on January 20 and revealed by OMV in a press release on Wednesday.

Under the agreement, the companies will assess potential development and redevelopment projects in the Iranian market.

In May 2016, OMV signed an MoU with the National Iranian Oil Company for the evaluation of fields in the Zagros area in western Iran. Prior to the recent sanctions, the company operated the Mehr exploration block.

Dana Energy is a private company working in the exploration and production, upstream services and energy trading sectors. It has participated in major Iranian developments such as the South Pars and South Azadegan fields.

In July 2016, Dana Energy was among eight Iranian firms listed by the government as eligible to enter into joint ventures with international energy companies.

Image courtesy of OMV