Sputnik - An oil industry source said that Lukoil and the National Iranian Oil Company have signed two memoranda of understanding in the field of geological prospecting.




MOSCOW (Sputnik)��� Russia's Lukoil and the National Iranian Oil Company (NIOC) have signed two memoranda of�understanding in�the field of�geological prospecting, an oil industry source told Sputnik on�Tuesday.
"At the beginning of�the visit of�Iranian Oil Minister Bijan Zangane to�Russia, a Memorandum of�Understanding was signed between�the National Iranian Oil Company (NIOC) and Lukoil," the source said, without�disclosing details of�the agreement.


The source also noted that the second memorandum was signed between�Lukoil and KEPCO (Khazar Exploration and Production Company), which is a part of�NIOC.

According to�the source, the documents have been signed following�several months of�negotiations on�conducting geological exploration in�the southern part of�the Caspian Sea region.