Iran, South Korea to Sign Three Energy MoU in May

Iran and South Korea will sign three energy related memorandum of understanding (MoU) in May.

According to Iranian oil ministry affiliated news agency Shana, South Korean President Park Geun-hye will visit Iran next month to sign the three MoU.

Director General of the Asia-Pacific Department of the Ministry of Petroleum Maliheh Riyahi said that two agreements will be inked with the National Iranian Gas Exports Company (NISOC) and National Iranian Gas Company (NIGC). 

Enhanced oil recovery, technological investments and investment in construction of Iran gas trunklines 9 and 11 (IGAT 9 and 11) as well as petrochemical cooperation will be considered by the two sides through the agreements, Riyahi told Shana.

On Sunday, South Korean Trade, Industries and Energy Minister Joo Hwang-wan was in Tehran and met with oil ministry officials.