TEHRAN, September 15 – MAPNA Group and Austrian ILF Group have signed a Memorandum of Agreement.

TEHRAN, September 15 – MAPNA Group and Austrian ILF Group have signed a Memorandum of Agreement.

The MOA will allow both parties to cooperate in marketing and implementing Iran’s domestic oil and gas projects, drawing upon mutual capabilities.

ILF Group is an Austrian-German corporation active in oil and gas sector which provides upstream and downstream contractor services in project management and engineering. The corporation has branches worldwide including in Europe, the US, Canada, Russia, China, UAE, etc. In addition to oil and gas, ILF Group is active in energy, transportation, and water sectors as well.

According to the provisions of MOA signed in a joint session of businessmen and economic activists of both countries, ILF Group, as a prestigious international corporation with excellent record sheet in providing design, engineering, project management and value engineering in oil and gas sector, officially stated its willingness to cooperate with MAPNA Group as Joint Venture or as a partner engineering company. Both sides also agreed to jointly work in international projects, and to cooperate in preparation of tender documents, technical and financial proposals, and in joint ventures.

The MOA between MAPNA Group and ILF Group will remain valid until the end of 2017, and will be extended if both sides agree.

During the session, MAPNA Group, OMV (another Austrian prestigious corporation) and ILF Group held negotiations on oil and gas, with the detailed report to be published in the near future.

Iran-Austrian joint trade session had been held on September 8, in Tehran’s Summit Conference Hall with Austrian President Heinz Fischer and his entourage of high-ranking officials and business moguls participating.

Economic observers informed the media that a delegation of 250 businessmen and trade leaders from Austria is visiting Iran as the largest ever such a delegation Austria sends to any country.

Austrian Federal Minister of Science, Research, and Economy Reinhold Mitterlehner had told reporters on last Tuesday that a roadmap of economic and trade relations between Iran and Austria until 2020 had been drafted.

Reihhold’s Iranian counterpart Mohammad Reza Nematzadeh also highlighted the roadmap which would cover all fields of cooperation with Austria.

Mohsen Jalalpour, head of Iranian Chamber of Commerce told the meeting that Austria would use Iran as a gate to Central Asia, Caucasus, and the Persian Gulf in farther south.

Chairman of the Chamber of Commerce and Industry of Austria and Europe Christoph Leitel also told the meeting that his country would not seek short-term presence in Iran, but would seek longer and sustained plans. He hailed the détente between Iran and many other countries, believing that it opened new avenues especially for Austrian companies seeking long-term investments in Iranian stable markets.

Heinz Fischer, for his part, expressed gratitude for ‘good conditions now prepared by Iranian officials’ efforts’ and subsequent ‘fruitful negotiations.’ “We want to see friendly ties between Iran and Austria, since economic and political relations are complementary, with political détente bringing forth improved economic ties, thus contributing to bringing both nations closer,” said Austrian president.

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