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On July 12, the Iranian Oil Minister announced Iran signed a $300 million deal to develop the Yaran oil field, which aims to produce 39.5 million barrels of crude within 10 years. The project is expected to produce $2 billion of income for Iran and will continue despite the limitations of existing U.S. sanctions.

Iran Signs $300 Million Deal To Develop Yaran Oil Field

On July 12, the Iranian Oil Minister announced Iran signed a $300 million deal to develop the Yaran oil field, which aims to produce 39.5 million barrels of crude within 10 years. The project is expected to produce $2 billion of income for Iran and will continue despite the limitations of existing U.S. sanctions.

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