Iran, Russia ink oil deal
December 19th, 2011 - 1:27 am ICT by IANSTehran, Dec 18 (IANS) Iran and Russia Sunday signed a contract to develop an oil field in the southern part of the country, Xinhua reported.
It was signed between the Iranian Petroleum Engineering and Development Company and Russia’s Tatneft Oil Company for the development of the Zagheh oil field.
The contract, worth $1 billion, is to develop the oil field in Bushehr province on the Persian Gulf coast.
After the completion of the first stage of the project, to be completed in two years, it will produce 7,000 barrels of oil per day. In the second phase, after five years, its capacity will increase to 55,000 barrels per day.
–Indo-Asin News Service
snb
- Ukraine firm to invest $1 bn in Iranian oil fields - Dec 26, 2011
- Iran finds new gas field - Aug 09, 2011
- Iran finds major helium reserve - Oct 01, 2011
- Pay compensation for ending oil contracts: Iran - Feb 20, 2012
- Chinese firm to drill oil fields in Persian Gulf - Mar 07, 2010
- Iran's sole n-power plant becomes operational - May 19, 2011
- Iran willing to work with Russia on more power plants - Mar 26, 2012
- Iran informs IAEA inspectors of Bushehr nuke plant setback - Feb 26, 2011
- Iran launches Bushehr nuclear power plant - Sep 12, 2011
- Iran's Bushehr plant to produce 1,000 MW electricity - Dec 21, 2011
- Ecuador signs deals to boost oil output - Feb 02, 2012
- Iran threatens to cut oil exports to more countries - Feb 21, 2012
- Gold for Iran oil report speculative: India - Jan 26, 2012
- Five drown as Iranian ship sinks (Lead) - Oct 21, 2011
- India open to all mechanisms to buy Iranian oil (Lead) - Jan 26, 2012
Tags: 1 billion, asin, contract worth, indo, iran, news service, oil company, oil deal, oil field, persian gulf coast, petroleum engineering, russia, second phase, snb, tatneft, tehran, xinhua