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🔹 Russian firm to re-develop Iranian oil fields

Iran has awarded its second post-sanctions oil contract to Russia over the re-development of two western fields.

Based on an agreement it signed in Tehran on Wednesday, Russia’s state-controlled Zarubezhneft would re-develop Aban and West Paydar oil fields.

Both fields are located in areas bordering Iraq and are considered as among high-priority fields.

Zarubezhneft would use an investment of above $740 million to use the latest technologies to improve the recovery rates of Aban and West Paydar.

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