Petrobras to Explore Iran"s Caspian Sea Oil Fields
Iran is in talks with Brazil"s state oil company Petrobras to explore two oil blocks in the Caspian sea, an Iranian official was quoted as saying on Sunday. Iran aims to finalise the $2 billion deal by summer. Petrobras said in March it would make a big push to expand its overseas exploration activities this year to countries like Iran. State television said it would be Irans first oil and gas exploration operation in the Caspian Sea.