TEHRAN – National Iranian Oil Company (NIOC) and Philippine’s PNOC Exploration Corporation (PNOC EC) signed a memorandum of understanding (MOU) on Monday based on which PNOC EC was awarded the study of two Iranian oil fields.

According to the MOU, which was signed in Tehran by Gholamreza Manouchehri, the deputy managing director of NIOC, and PNOC EC’s board member Pedro A. Aquino, the Pilipino company is to conduct preliminary studies on Pazanan field and phase 3 of Darkhovin field in southwest Iran.
PNOC EC is the upstream oil, gas and coal subsidiary of the state-owned Philippine National Oil Company.

EF/MA