Russian shipyard Krasnye Barrikady has signed a $1 billion contract with Iranian company Tasdid to build offshore drilling rigs for work in the Persian Gulf.
The Russian side undertook to finance 85% of the contract amount.
The rigs designed to explore and develop oil and gas will be built within the next two years in the Iranian city of Khorramshahr.
On August 28, CEO of Krasnye Barrikady Alexander Ilyichyov said that the shipyard was ready to consider construction of a drilling rig for Iran to work in the Caspian Sea.
The Russian plant is ready to conduct feasibility studies of Iranian proposals regarding construction of a drilling rig in the Caspian Sea, as Krasnye Barrikady has fulfilled similar projects in the Caspian Sea earlier. (Prime/Business World Magazine)