Iran signs $440 million deal with local firm to develop Gulf gas field

Iran signed a $440 million contract on Saturday with local company Petropars to develop the Belal gas field in the Gulf, Iranian state television reported, saying the country’s vital energy sector was active despite U.S. sanctions. “This contract and other upcoming contracts show that we are working under the sanctions. The sanctions have not stopped us and we are active,” Oil Minister Bijan Zanganeh said at the signing ceremony in remarks carried by state TV.

Source: yahoo.com/news