December 13, 2016 / 6:50 AM / in 8 months

Iran, Russia sign initial agreement for oil field studies

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A sign displaying the logo of Russia's Gazprom Neft oil company is seen at the company's office in the West Siberian city of Khanty-Mansiysk, Russia, January 28, 2016.Sergei Karpukhin/File Photo

BEIRUT (Reuters) - Russia's Gazprom Neft (SIBN.MM) and National Iranian Oil Company (NIOC) signed a memorandum of understanding on Tuesday for feasibility studies on development of two oil fields, Iran's oil ministry news agency SHANA said.

Gazprom will study both Changouleh and Cheshmeh-Khosh oil fields in Western Iran.

Russian Energy Minister Alexander Novak and his Iranian counterpart, Bijan Namdar Zanganeh, were present at the signing ceremony in Tehran.

Reporting by Bozorgmehr Sharafedin; Editing by Tom Hogue

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