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News // Economy

Shell: World markets longing for Iran’s return

08 December 2016 , 10:07Neftegaz.RU1016

Vice President at Royal Dutch Shell said December 7, 2016, that the global oil market is longing for Iran’s return to international arenas.


Speaking at the signing ceremony of a memorandum of understanding (MoU) with the National Iranian Oil Company (NIOC) in Tehran on Wednesday, Hans Nijkamp said the deal will open a new chapter in Shell’s cooperation with the NIOC and the Iranian Ministry of Petroleum.

Over the years, he added, Iran has exhibited an extraordinary performance before the sanctions and its oil industry is still up and running and the global oil market is anticipating its return.


He said introduction of the new framework of oil contract models by Iran is a key step for striking win-win conditions for developers.

Nijkamp further voiced Shell’s readiness to share its massive experiences and technologies in working in the Middle East’s oil and gas projects with Iran.


The National Iranian Oil Company (NIOC) and Royal Dutch Shell signed a memorandum of understanding (MoU) to conduct studies on Azadegan, Yadavaran and Kish oilfields in Iran.

Noureddin Shahnazizadeh, managing director of the Petroleum Engineering and Development Company (PEDEC) from NIOC and Hans Nijkamp from Shell inked the deal in the presence of NIOC Managing Director Ali Kardor on Wednesday.

Based on the cooperation document, Shell will assess development projects of the fields.


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