Iran's Dana signs MoU with OMV

OMV said that both parties agreed to evaluate possible upcoming development and re-development projects in the Iranian oil and gas industry

Dana was established in 2000 and describes itself as the largest private oil and gas company in Iran.
Dana was established in 2000 and describes itself as the largest private oil and gas company in Iran.

Iranian company Dana Energy signed a Memorandum of Understanding (MoU) with Austria's OMV, targeting oil and gas upstream field development activities.

OMV said this week that both parties agreed to evaluate possible upcoming development and re-development projects in the Iranian oil and gas industry. The document was signed in Vienna by Dana's upstream president S. Mostafa Khoee and his OMV counterpart Johann Pleininger.

Dana was established in 2000 and describes itself as the largest private oil and gas company in Iran.

OMV entered Iran in 2001 as the operator of the Mehr exploration block in western Iran, leading to a successful discovery (Band-E-Karkheh) in 2005. In 2016, it signed a MoU with state-owned National Iranian Oil Company (NIOC) concerning the evaluation of various fields in the Zagros area in the west of Iran, for potential future development. OMV also signed a joint study agreement with NIOC Exploration for the Fars area.

OMV CEO Rainer Seele named Iran as one of his company’s three main upstream development priorities, along with Russia and Norway, early 2016.

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