The National Iranian South Oil Company (NISOC), a subsidiary of the National Iranian Oil Company (NIOC), and Schlumberger signed memorandum of understanding (MoU) andand Non-Disclosure Agreement (NDA) within framework of the NISOC contract, reported Shana.

Accordingly, Schlumberger  would be required to study the formations of Shadegan, Parsi and Rag-e Sefid oil fields in Khouzestan. NISOC’s Managing Director, Bijan Alipour. and Schlumberger’s Production Manager,  Antony Bowman, signed the agreements, according to Press TV.

Schlumberger would be the second giant energy corporation to win a deal in Iran’s oil industry.  Earlier Total had signed a contract to develop a major gas project in Iran’s South Pars gas field. In addition, Italy’s Eni also announced that it is looking into Iran’s post-sanctions investment prospects, but emphasized that it had to receive Iran’s outstanding payments over its previous investments in the country’s oil industry settlement.

The southwestern province of Khouzestan which borders Iraq is generally considered as the heartland of Iran’s oil industry.  The province over 45 major oil fields and is responsible for around 80% of Iran’s total crude production.