Indian ONGC Videsh, IDRO Oil Sign MoU

Indian oil company ONGC Videsh signed a memorandum of understanding with IDRO Oil, a subsidiary of the Industrial Development and Renovation Organization of Iran, in Tehran on Tuesday to conduct surveys on the development of Susangerd Oilfield in Khuzestan Province. 
Pointing to a recent deal between the Russian oil and gas firm Zarubezhneft Company and IDRO Oil to study the same oilfield, Nassrollah Zarei, the head of IDRO Oil, said," IDRO Oil is making a concerted effort to form a consortium and join the Russian and the Indian firm to develop the field," IRNA reported.
According to the official, the National Iranian Oil Company assigned IDRO Oil to develop the field because of which the company chose Austria's HOT Engineering Company to provide it with consultancy services, technical support and a master development plan to scrutinize the field's upstream prospects. 
IDRO Oil is holding talks with potential foreign partners to single out the one with the most viable economic alternatives.