Russia's Krasnye Barrikady Shipyard made a deal with Iran's Tasdid Offshore Development Company worth $1 billion.

MOSCOW (Sputnik) — Russia's Krasnye Barrikady Shipyard made a deal with Iran's Tasdid Offshore Development Company worth $1 billion to build offshore drilling rigs to be used in the oil and gas exploration project in the Persian Gulf, media reported on Saturday. The deal signed by the companies' CEOs  Aleksandr Ilichev and Ehsan Mousavi provides that the drilling rigs will be built in the Iranian city of Khorramshahr within the next two years, IRNA news agency said. The media added that 85 percent of works under the contract would be executed by the Russian side.

By Sputnik