Iran’s oil ministry has authorised the construction of a refinery close to the Caspian Sea, Iranian news agency IRNA has said. International oil companies such as Royal Dutch Shell and BP Amoco have shown interest in the exploration of the Moghan oil field in the Ardebil region. The planned refinery would be built near the border with Azerbaijan. This is the second exploration attempt on Iran near the Caspian sea after Iran’s Sadra Marine Structures in March signed a USD 226 million oil exploration contract in the region with Swedish company GVA Consultants.
