Economics
Iran and Russia’s Tatneft Sign $1 Billion Oilfield Accord
This article is for subscribers only.
Russia’s OAO Tatneft signed an accord valued at $1 billion with Iran to develop the Zagheh oil field in the Persian Gulf nation, where many energy projects face delays due to intensified sanctions by Western countries.
A preliminary deal was signed in Tehran earlier today between Tatneft, which is based in Russia’s Tatarstan region, and Iran’s Petroleum and Engineering Development Co., the Iranian Oil Ministry said on its news website Shana today.