National Iranian Oil Company (NIOC) and German company Winstershall signed a memorandum of understanding (MoU) for carrying out appraisal studies on 4 Iranian oil fields in western Iran.

From Iran, Roknoddin Javadi, managing director of NIOC, and From Wintershall, Mario Mehren, CEO, signed the MoU in Tehran on Tuesday.

According to the MoU, Wintershall will start studies over the fields within a month.

A subsidiary of BASF, Wintershall is Germanys largest internationally active crude oil and natural gas producer.

It explores and produces oil and gas in Europe, North Africa, South America, Russia, and the Middle East.

It has been active for over 85 years and has a workforce in excess of about 2,000 employees from more than 40 nationalities.