The National Iranian Oil Company (NIOC) and Russian energy giant, Lukoil, have signed two MoUs for carrying out geological studies on oil projects in the Caspian Sea.

The documents were signed in Moscow in a ceremony held in the presence of Iranian Minister of Petroleum Bijan Zangeneh and Lukoil Managing Director Vagit Alekperov in Moscow on Wednesday.

Zangeneh is in Moscow to attend the 19th Ministerial Meeting of members of the Gas Exporting Countries Forum in Moscow.