Russia drafts agreement to tap Iranian oil fields

29 Jul 2017   Iran, Russia

Russia and Iranian agreement involves the potential to tap into Iranian oil fields. The signing of the deal comes as both countries face tighter sanctions pressure from U.S. lawmakers. Image courtesy of Gazprom Neft. July 28 (UPI) — An agreement with an Iranian engineering services company expressed mutual interest in working in the oil fields of Iran, a Russian energy company said. Russian energy company Gazprom Neft signed a memorandum of understanding with Iran’s Oil Industries’ Engineering & Construction. The agreement confirms “both companies’ mutual interest in combining forces in the preliminary assessment and investigation of the geological potential of oil fields located in the Islamic Republic of Iran,” the Russian company stated . The memorandum came as both sides faced pressure from U.S. lawmakers. On Tuesday, the U.S. House of Representatives, in a 419-3 vote , opted to toughen sanctions on Iran, North Korea and Russia. House Speaker […]

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