By Liam Moloney

ROME--Italian oil services company Saipem SpA said Tuesday it had signed a second memorandum of understanding with an Iranian company, after Iranian President Hassan Rouhani kickstarted his European tour to drum up new business for the Islamic republic.

In a statement, Saipem said the memorandum was signed with the National Iranian Gas Co. and involves possible pipeline projects that cover a total of 1,800 kilometers.

No financial details were given.

On Monday, Saipem said it had signed a memorandum of understanding with Parsian Oil & Gas Development Co. on the possible revamping of the Pars Shiraz and Tabriz refineries.

Earlier Tuesday, President Rouhani courted Italian businessmen at a meeting in Rome by saying that the end of the West's economic sanctions are a "win-win situation" for both Iran and those businesses wanting to sign deals with the Islamic republic, as its economy is young and offers potential for growth.

Write to Liam Moloney at liam.moloney@wsj.com

(END) Dow Jones Newswires

January 26, 2016 11:05 ET (16:05 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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