The document which is marked as the first firm step taken by the two sides since removal of the US-led sanctions on Tehran's nuclear program.
Managing Director of the company Marziyeh Shahdaei from NPC and Hans Nijkamp, Royal Dutch Shell Vice President Iran, signed the deal at the 13th floor of the NPC building on Sunday.
"We have been in discussion with the NPC for some time to come to this Letter of Intent signing ceremony," Nijkamp said prior to signing the document.