Iran and China signed a $2.2 billion contract on the production of drilling rigs.
The Chinese consortium organized by companies Zenhua, ZHIC and ADHK and the Iranian offshore engineering construction company signed a $2.2 billion contract to build drilling rigs to work onshore and offshore, the Iranian news agency Fars said.
The contract was signed in Shanghai and the ZHIC undertook the obligation before Iran to build and give over 10 rigs to work on offshore and 7 onshore by 2010.