The projects, for which memoranda of understanding (MoUs) were signed on 7 December, are phase two of South Azadegan oilfield, phase two of Yadavaran oilfield and the Kish gas field.

Each of the projects, if implemented, would require an investment running into billions of dollars.

“We can confirm that we have signed an MoU with the National Iranian Oil Company (NIOC) to further explore areas of potential interest,” said a Shell spokesperson.

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