AHVAZ, Jan. 12 (PEDCO) – In a significant development at the 15th Khuzestan Oil Industry Exhibition, a bilateral memorandum of understanding (MoU) was signed between the National Iranian Drilling Company (NIDC) and PetroIran Development Company (PEDCO).
The agreement, signed by Ali Daghayeghi, PEDCO CEO, and Mehran Makvandi, CEO of NIDC, establishes the foundation for future cooperation in providing drilling operations and related technical services between the two companies.
The MoU outlines the next steps, which will include drafting a formal agreement or contract. The details will be finalized following expert consultations and discussions between both parties regarding the execution details and pricing terms.
Once the necessary agreements are in place, the contract will be prepared and sent for signature.
This collaboration is expected to bolster both companies' efforts in enhancing operational efficiency and technical capabilities within Iran's oil and gas sector.