Russian Shipbuilder wins $1bn Iran Oil Rig Deal

By John Lee.

A Russian shipbuilder has reportedly been awarded a contract worth nearly $1 billion to build five offshore drilling rigs for use in Iranian waters.

An official from Krasnye Barrikady told Reuters that the project, which was under discussion for almost two years, will be financed jointly by Russia and Iran.

Iran will soon make a 15 percent advance payment on the $200 million price of the first rig, he said.

(Source: Reuters)

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