NIOC, KOGAS ink deal on Balal gas field

NIOC, KOGAS ink deal on Balal gas field

NIOC and Korea Gas Corporation (KOGAS) have signed an MoU over the development of one of Iran’s major gas fields in the Persian Gulf, Menr informs.

Following the signing of two Memoranda of Understanding (MoUs) to buy LNG as well as participation in construction of gas pipeline to Oman, Korea Gas Corporation (KOGAS) has inked a third agreement with the National Iranian Oil Company (NIOC) to study the development of a gas field in the Persian Gulf.

Accordingly, NIOC Managing Director Roknodin Javadi and KOGAS’s CEO Seung-Hun Lee sealed a cooperation agreement to study the expansion of Balal gas field as well as to carry out gas projects.

“The South Korean company has had active participation in oil and gas industries of 15 world countries,” highlighted deputy oil minister Javadi asserting “on the basis of the inked deal, KOGAS will conduct technical studies of Balal gas field.”

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