During the visit of the Italian Prime Minister in Iran, Iran and Italy have signed seven cooperation agreements, as Italy is seeking to regain its rank of first European partner for Iran.
A memorandum of understanding (MoU) has been signed between Italian energy group Enel and the National Iranian Gas Export Company (NIGEC) on potential future cooperation in gas, LNG and related infrastructures, paving the way for long-term gas supplies for its power plants.
In addition, oil major Eni has signed an agreement allowing it to import oil from Iran in payment from previous investments. Its subsidiary Saipem (30.4%) also signed an MoU with the Razavi Oil & Gas Development Company on potential cooperation on the Toos gas field development project. Toos, located 100 km northeast of Mashhad, holds over 60 bcm of gas in place and could produce some 4 mcm/d (1.5 bcm/year). The development project includes drilling 5 firm plus 2 optional wells, and the design and construction of all upstream gas production facilities and those for transportation and processing.
Italian Cassa Depositi e Prestiti will offer €4bn of credit lines to company building oil and gas infrastructures and loans will be guaranteed by Italian export agency SACE.
German Wintershall (BASF) also signed an MoU with the National Iranian Oil Company (NIOC) to jointly study four oil fields in western Iran.