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14 August 2018


Wintershall says not to pursue further projects in Iran

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Germany's Wintershall energy company told that it would not pursue further projects in Iran after the memorandum of understanding, agreed with the National Iranian Oil Company (NIOC), expired.

Axar.az informs citing Sputnik.

“In order to lay the foundations for possible further activities in the region, in April 2016 Wintershall signed a Memorandum of Understanding (MoU) with the National Iranian Oil Company (NIOC) on possible future cooperation and has examined potential oil projects since then. The economic conditions and the geopolitical environment are of decisive importance for the realization of such projects," a company spokesman said.

"Unfortunately, it was not possible to clarify the general economic conditions definitively in our discussions with NIOC. In addition, the overall political situation significantly impedes any possible engagement in Iran at the moment. The Memorandum of Understanding agreed with the NIOC will expire soon and will not be extended. Wintershall will not pursue any further projects in Iran for the time being," he said.

Wintershall Holding GmbH, a wholly owned subsidiary of German chemical company BASF.

Date
2018.08.02 / 18:40
Author
Axar.az
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