Iran, Russia to cooperate on construction of oil product pipeline in Iran

MOSCOW. Nov 10 (Interfax) - Russia and Iran have signed a memorandum of understanding on the implementation of EPC (engineering, procurement and construction) projects for oil product pipelines, Iran's Shana agency said.

Sina Energy Gostar Holding CEO Mohammad Ziyar said this refers to a memorandum on cooperation in the implementation of the Tabesh oil product pipeline project that was signed at a meeting of the two countries' intergovernmental commission at the beginning of November. The pipeline with capacity of 150,000 barrels per day will run about 1,000 km between the Rafsanjan and Mashhad and will have two pump stations and three terminals.

The project will take four years to complete, Ziyar said. Final negotiations on the project are supposed to take place this week, he said.