Deputy Oil Minister and head of the National Iranian Gas Company Javad Owji describes the deal.

VOA: standard.2010.07.23

Sinopec, the Chinese oil giant, and the National Iranian Oil Company (NIOC) signed an agreement to explore oil in Zavareh, Kashan, 205 kilometers south of Tehran.

CENTERFORSECURITYPOLICY: Center For Security Policy

Officially privatized in 2000, NITC is nonetheless much entwined with the state-owned National Iranian Oil Company, or NIOC.

FORBES: Iran Sanctions: A Tale of Two Fleets

However, if the National Iranian Oil Company (NOIC) sells it natural gas outside of Iran, it turns a profit.

FORBES: Mullahs Gone Wild