Russian yard in negotiations for Iranian rigs worth ‘billions of dollars’

Krasnye Barrikady, a Russian shipyard which translates as Red Barricades, claims it is in line for a bumper series of orders from Iran.

Speaking with local newswire TASS, Alexander Ilyichev the shipyard’s director, said his company, based in the Astrakhan region, was on the cusp of signing multiple rig deals with Iran, a nation set to be freed from Western sanctions very soon.

“We hope that today will sign an agreement for the joint construction of the rigs aid for explorations and production of hydrocarbons in the waters of the Persian Gulf,” Ilyichev said, adding: “The volumes are very big, the Iranians name numbers in billions of dollars. The construction cycle is planned not for one year, but for decades.”

Ilyichev said that the yard may also win some tanker orders from Iranian tanker firm, NITC.

Speaking with Splash earlier this year, Mohammad Saeidi, chairman of Islamic Republic of Iran Shipping Lines (IRISL), detailed both his and NITC’s massive fleet expansion plans as the nation gears up for the lifting of sanctions.

Established in 1886 as a ship repair yard, Red Barricades has since become a specialist in tankers and offshore.