They signed the exploration and production agreement and also pledged to strongly consider investments in the $4 billion Nabucco pipeline from Turkey to Austria. OMV will make a final decision on the pipeline later this year.
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Iran Ready for Austrian Investment
Austria's OMV AG has signed...
Austria's OMV AG has signed a memorandum of understanding with Iran's National Iranian Gas Export Co. that strengthens the two countries' interest in developing future exploration and development projects together.
OMV's announcement came after Austrian President Thomas Klestil made a state visit to Iran. He was accompanied by Helmut Langanger, a member of the executive board of OMV responsible for exploration and production, and Otto Musilek, CEO of OMV Erdgas GMBH.
They signed the exploration and production agreement and also pledged to strongly consider investments in the $4 billion Nabucco pipeline from Turkey to Austria. OMV will make a final decision on the pipeline later this year.
In April 2001, OMV signed a 4-year agreement with Iran regarding exploration in the Zagros region. OMV's interest lies on the Mehr block where it is the operator for a consortium. Partners are Repsol-YPF SA (Spain) and Sipetrol (Chile), each with a 33% stake. OMV holds the remaining 34% stake. Drilling is slated to begin in March.
They signed the exploration and production agreement and also pledged to strongly consider investments in the $4 billion Nabucco pipeline from Turkey to Austria. OMV will make a final decision on the pipeline later this year.
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