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Russian company ready to build drilling rig for Iran in Caspian Sea

August 29, 8:41 UTC+3 TEHERAN
Production of crude oil and natural gas off Iran's Caspian coast is far less lucrative for the country because advanced technology only is required here
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© ITAR-TASS/Alexander Ryumin

TEHRAN, August 28. /TASS/.The Krasnye Barrikady (Red Barricades) shipyard located in Russia's southern Astrakhan region is prepared to build a maritime drilling rig for Iran n the Caspian Sea, Alexander Ilyichov, the director-general of the shipyard told IRNA news agency on Sunday.

Production of crude oil and natural gas off Iran's Caspian coast is far less lucrative for the country because advanced technology only is required here, as the depth of the seabed reaches about 1,000 meters there.

He indicated that his enterprises had gained enough experience wih offshore projects of this kind and was ready to study the rationality of using drill rigs in that part of the sea.

Reports on Saturday said the Russian shipyard and the Iranian company TASDEED (a business entity operating in the field of maritime construction - TASS) had signed an agreement in Tehran on doing a feasibility study into the rationality of utilization of marine drilling rigs in the Persian Gulf,

The agreement that is to be completed within two years totals $1 billion. The rigs will be built in the Iranian seashore city of Horremshehr.

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