TEHRAN, Apr. 29 (MNA) – Iran and French Institute of Petroleum (IFP) have reached an agreement on signing a joint oil MoU aimed at improving the oil recovery factor from oil tanks.


The agreement was reached between Iran’s Research Institute of Petroleum Industry and French Institute of Petroleum (IFP), and is planned to be signed this May.

Under the MoU, the two sides will cooperate in eight different technological fields including Enhanced oil recovery (EOR), sweetening natural gas, water management, holding joint educational courses, as well as forming a joint center for international specialized courses aiming at providing services to Iran’s Research Institute of Petroleum Industry and the region.

CEO of the French Institute of Petroleum (IFP) had held talks with officials at Iran’s Institute for International Energy Studies last year in Tehran where he expressed the IFP's readiness for having a more effective presence in Iran’s oil and gas industry, particularly with respect to training specialists needed for the industry in the post-sanction era.

“IFP as one of the world’s most prestigious institutes in the field of oil and gas, with an experience of having worked in over 80 countries and with 1200 oil companies across the globe, fully welcomes the possibility of resuming its activity in Iran immediately after the lift of sanctions,” he had said.

The French Institute of Petroleum (IFP Energies Nouvelle) is a French public-sector research organization founded in 1944. Its stated mission is to develop, through industrial innovation and training, clean and economically viable technologies in the fields of energy, transport and the environment.

By Mehr News Agency