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Home / News / Today's Headlines / Iran, Venezuela to Form Joint Oil Company, Ink Eleven MOUs

22.10.2010

Iran, Venezuela to Form Joint Oil Company, Ink Eleven MOUs

Iran and Venezuela signed 11 agreements in Tehran late on Wednesday, including one on establishing a joint oil company.

The other memorandums of understanding were on the involvement of the Venezuelan Oil Company in Phase 12 of the South Pars gas field, the construction of a refinery in Syria, cooperation in liquefied natural gas and oil tanker activities, and cooperation in the petrochemical and energy sectors.

The agreements were signed in Tehran at the sixth session of the two countries’ joint industrial committee, which Iranian President Mahmoud Ahmadinejad and Venezuelan President Hugo Chavez attended.

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