Iran, Venezuela strike $130 million oil deal

TEHRAN,May 1(MNA) - Iran and Venezuela have signed a deal, worth $130 million, based on which Iran will construct an offshore platform yard in Venezuela, the Mehr News Agency quoted deputy of Iranian Offshore Engineering and Construction Company Amir Saeed Najafi as saying. Najafi urged that transferring equipments from the Persian Gulf to South American area is Iran's main problem. Long distance will complicate Iran's position in the competitive market, according to the Pana News Agency. Iran is building four oil tankers to be delivered to Venezuela by May 2013, the Iranian Sadra Shipbuilding Company's managing director stated. "The project has so far progressed by around 45 percent," Sadra head Mehdi Etesam said. The two countries signed a 211-million-euro deal in January 2007. Iran will deliver the first domestically-made oil tanker, with the capacity of 113,000 tons, to Venezuela in September. The oil tanker is worth 52 million euros and is the first of its kind which is built in the Middle East.