A consortium of Russian and Iranian companies signed an agreement with Tehran to develop two oilfields located on the country’s border with Iraq, according to emerging reports —Iran’s second deal since the nuclear pact. The project, which will develop the Aban and West Paidar fields, will cost $740 million and will produce roughly 105 million barrels of oil over a ten-year period. Russia’s state-run Zarubeznheft Oil Co. and Iran’s Dana Energy are the contract’s private signatories. Since the 2015 nuclear deal that reintroduced Iran to global oil markets, this is only the second international development deal that has reached fruition. Last year, the country signed a $5 billion agreement with France’s Total SA and a Chinese oil company to develop a sizeable offshore natural gas field. During President Barack Obama’s term, Iranian officials had been vocal about their disappointment with the U.S. government’s lack of diplomatic assurance to global […]