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Iran Signs $740 Million Agreement on Oil Project

Iran's state-run oil company has signed a $740 million agreement with a Russian-Iranian consortium to develop two oil fields near the Iraqi border. Under the agreement signed Wednesday, there will be a 48,000-barrel daily production of crude for a 10-year span in oil fields in Aban and West Paidar in the southwest near the border with Iraq. Iran currently produces 36,000 barrels of crude in both fields. The consortium includes the Russian state-controlled Zarubezhneft Oil Co. and...

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