Iran, Armenia and Russia to Investigate New Oil Pipeline Construction Project

Oil&Gas Materials 12 September 2008 15:37 (UTC +04:00)

Azerbaijan, Baku, 12 September / Trend / According to the Armenian Industry and Energy Ministry, Iran, Armenia and Russia investigate the joint oil pipeline construction project. This was reported by Iranian Isna agency.

"At present, the trilateral special commission from Armenia, Iran and Russia on construction of an oil refining in Armenia, has commenced investigation to lay an oil pipeline," Armen Movsisyan, the Armenian Industry and Energy Minister, said.

The oil refining, which is expected to be built in Armenia, will produce 7mln tons oil per year. Construction's cost is $2.5bln or $3bln.