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Iran Invests $500m in Caspian Sea
The Islamic Republic of Iran's Khazar Oil Company is to invest $500m in development of oil and gas resources in the Caspian Sea, managing director said.

Mohammed Hosein Dana said that his company will supply a semi-submersible rig, three tugboats and support services as part of the first phase of exploration.
There are 21 billion barrels of oil in the south Caspian Sea region, according to a 2001 study by Khazar and oil consortium Caspian International Petroleum Company (Cipco).
The study identified nearly 50 potential oil and gas structures.
Moj News
Aug 2, 2009 14:25
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