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Iran, Venezuela strike $130 million oil deal

Iran Materials 30 April 2012 14:43 (UTC +04:00)

Azerbaijan, Baku, Apr. 30/ Trend F.Milad/

Iran and Venezuela have signed a deal worth $130 million, based on Iran constructing an offshore platform yard in Venezuela, the Mehr News Agency quoted deputy of Iranian Offshore Engineering and Construction Company Amir Saeed Najafi as saying.

Najafi pointed out that transferring equipment from the Persian Gulf to South American area is Iran's main problem. Long distance will complicate Iran's position in the competitive market, according to the Pana News Agency.

Iran is building four oil tankers to be delivered to Venezuela by May 2013, the Iranian Sadra Shipbuilding Company's managing director stated.

"The project has so far progressed to around 45 per cent," the ISNA news agency quoted the Sadra head Mehdi Etesam as saying. The two countries signed a 211-million euro deal in January 2007, the report added.

Iran will deliver the first domestically made oil tanker with a capacity of 113,000 tons, to Venezuela in September.

The oil tanker is worth 52 million euros and is the first of its kind to be built in the Middle East.

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