Iran hands Russian yard $1bn rig order

Russia’s Krasnye Barrikady Shipyard has won a much telegraphed $1bn order to build five drilling rigs for Iran’s Tasdid Offshore Development.

The Russian yard is being used for Iran to gain expertise in rig building. Much of the rigs will be built on Iranian soil at the port of Khorramshahr under Russian supervision.

“The five new rigs will be built in accordance with Persian Gulf conditions and will be capable of offering services in South Pars joint field,” the head of Tasdid, Ehsan Mousavi, said during a signing ceremony on Saturday.

Iran also plans to build a rig repair facility at Khorramshahr.