TEHRAN, April 30 (Shana) –- A senior Iranian energy official said Iran and South Korea will sign 4 memoranda of understanding during President Park Geun-hye’s visit to Tehran.
Deputy Petroleum Minister in International Affairs and Trading Amir Hossein Zamaninia told Shana that the MoUs will concern oil and gas cooperation between Iran and South Korea.
“The two countries will sign a long-term oil and gas cooperation instrument in the presence of their presidents along with Iranian Minister of Petroleum Bijan Zangeneh and his South Korean counterpart,” said the official.
He said besides the strategy, three other MoUs will be signed by head of National Iranian Oil Company (NIOC), National Iranian Gas Company (NIGC) and National Iran Gas Exports Company (NIGEC) during the Korean president’s visit to Tehran.
Enhanced oil recover from Iranian oil fields, industrial knowledge transfer, investments in national gas trunklines 9 and 11, mini-LNG facilities and petrochemical plants are the areas the MoUs will cover.
Park Geun-hye’s visit to Iran will be marked as the highest ranking visit to Tehran by a Korean delegation.
In 2013, Iran and South Korea traded over $4.1 billion worth of goods.