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Iran, Tatarstansign dlrs 500m oil deal

Moscow, Feb 11, IRNA -- Iran and Tatarstan Republic on Friday signed a 500 million dollar contract to explore and exploit oil in Iran.

The agreement was inked by Head of Iran's Mostazafan and Janbazan Foundation Mohammad Forouzandeh and head of Tatneft, an open joint stock company in Tatarstan, a republic in southern Russia, in the presence of Tatarstan Prime Minister Roustam Minnikhanov.

Iran and Tatarstan Republic can cooperate with each other in the fields of exploration and production of Hydrocarbon resources, Minnikhanov said.

Forouzandeh, for his part, said Tatneft Company will attend Iran's oil tenders, adding his foundation is interested in cooperating with the Russian side in air industries and building construction fields.

Head of Mostazafan and Janbazan Foundation, heading a delegation, arrived in Tatarstan Republic on Thursday to explore avenues for boosting cooperation with Russia and Tatarstan.

... Payvand News - 2/11/05 ... --

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