Indian Treaty Series
MEMORANDUM OF UNDERSTANDING ON COOPERATION IN THE
|The Government of the
Islamic Republic of Iran and the Republic of India (hereinafter referred
to as the “Contracting
Desiring to enhance traditional ties of friendship between the two countries through development of economic co-operation;
Recognising the advantages to be derived by their respective peoples from the promotion of co-operation in the field of energy;
Noting that the Islamic Republic of
Iran is an important source of crude oil and natural gas for the
Republic of India’s
growing future requirements;
The Contracting Parties shall enhance their co-operation in the field of energy for mutual benefit. In furtherance thereof, the Contracting Parties shall encourage and facilitate joint co-operation in the following areas :
(a) exploration and production of
(c) consultancy services, training, research and development programmes/activities in energy sector; in particular on improving hydrocarbon recovery;
The Contracting Parties shall endeavour to supply crude oil, natural gas and petroleum products, subject to mutually beneficial and agreed terms and conditions for long-term arrangements and in accordance with the respective laws and regulations of the two Contracting Parties. The Two Contracting Parties encourage participation of their respective companies from the public and private sectors.
The Contracting Parties expressed satisfaction at the progress of work of lndia-Iran Joint Committee entrusted with the study of all aspects of Iranian gas supplies to India. The Committee has inter alia focused on the possibilities of supply of gas through off-shore and overland pipelines, as well as LNG. The Contracting Parties shall encourage the Committee to pursue its work vigorously.
The Contracting Parties shall encourage and facilitate early implementation of on-going LNG projects in Iran for LNG supplies to India.
The Contracting Parties agree to extend efforts and take necessary measures towards expanding already existing cooperation in the areas of refinery and petrochemicals.
The Contracting Parties agree to cooperate to provide training, exchange of experts and hold conferences/seminars to enhance the development of human resources and productivity in the field of energy.
This Memorandum of Understanding shall not in any way affect the obligations of the Contracting Parties under existing bilateral agreements between the two countries.
This Memorandum of Understanding shall enter into force upon signature and shall remain in force for a period of five years and shall be automatically renewed thereafter on a yearly basis unless either Contracting Party gives the other Contracting Party a written notice of its intention to terminate this Memorandum three months before its expiry.
Amendments to this Memorandum may be made at any time by mutual consent between the Contracting Parties.
Notwithstanding the termination of this Memorandum the activities already undertaken shall not be affected and continue until completed.
In witness whereof the undersigned being duly authorised thereto by their respective Governments have signed this Memorandum.
Done at Tehran on 10 April 200I in two originals, each in Hindi, Farsi and English languages, all texts being equally authentic. In case of doubt, the English text shall prevail.
On behalf of the
Islamic Republic of Iran
Ministry Of External Affairs, India