Services firm Schlumberger has signed a preliminary deal to collect data for an Iranian oil field.
The company told the Wall Street Journal that it has signed a memorandum of understanding with the National Iranian Oil Company (NIOC) “for the non-disclosure of data required for a technical evaluation of a field development prospect.”
Schlumberger told the Journal that the agreement does not call for the execution oil field operation services and added that it will comply with all laws and regulations.
Companies based in the United States and U.S. citizens are still prohibited from investing in Iranian oil fields although some Western sanctions against Iran have been lifted.
Schlumberger is incorporated in the Dutch Antilles and has a headquarters in Houston.
Major oil firms have slowly been looking into potential business opportunities in Iran.
Earlier this month, France’s Total became the first major international oil firm to sign a development deal with Iran since Western sanctions were lifted earlier this year.
Total signed a Heads of Agreement with the NIOC for the development of phase 11 of South Pars, the world’s largest gas field.
The South Pars 11 project will have a production capacity of 1.8 billion cubic feet per day, or 370 000 barrels of oil equivalent per day.
BP has reportedly been looking into potential opportunities in Iran.
According to Reuters, BP has reportedly created a committee to explore potential business opportunities in Iran.
The committee will exclude American born CEO Bob Dudley.
Sources told Reuters that BP CFO Brian Gilvary will lead the committee and coordinate the company’s operations in Iran along with any potential talks with the NIOC.