Gazprom's 40 billion dollar investment memorandum in Iran's oil and gas fields was signed today.

According to PSEEZ, Mohsen Khojste Mehr, the CEO of National Oil Company, stated in a press conference today: The memorandum of understanding for the largest investment in the history of the oil industry was signed between National Oil Company and Gazprom Company with a value of 40 billion dollars.

He added: Gazprom's 10 billion dollar investment for the development of North Pars and Kish gas fields, the development of 6 oil fields, including Mansouri, Abtimur, Karanj, Azar and Chengoleh, Gazprom's 15 billion dollar investment for increasing the pressure of the South Pars gas field and swapping gas and oil products with Russians and investment to complete the Iran-LNG project (Iran Liquefied Natural Gas Project) is one of the axes of this memorandum.

Khojaste Mehr said: "Before, a contract was signed with Russia for the development of 7 oil fields in the amount of 4 billion dollars despite the sanctions.