Russia and Iran may start joint production of oil rigs

Iran and Moscow plan to sign a memorandum of joint production of oil rigs at the Russian industrial exhibition in Iran.

The director of the Astrakhan shipyard 'Red Barricades', Alexander Ilyichev, expressed hope that "an agreement on construction for the development and production of hydrocarbons in the waters of the Persian Gulf" will be signed today.

According to him, after signing a memorandum of understanding the sides will study the financing issues.