Russia to build offshore drilling rigs for Iran

Russia's Krasnye Barrikady Shipyard has signed a contract with Tasdid Offshore Development Company from Iran to build a series of offshore drilling rigs.

The rigs will be used for an exploration project in the Persian Gulf, Sputnik News reported.

The US$1 billion contract stipulates that the drilling rigs will be built in the Iranian city of Khorramshahr.

Sputnik added that 85 per cent of the work under the contract is expected to be carried out by the Russian company.

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