Middle East gas oil and gas company Crescent Petroleum and Russian state cooperation Rostekhnologii will implement transportation projects on Russian territory, the Russian deputy prime minister said on Saturday.
"Today, a preliminary agreement of the investment fund statutory documents was made. It includes Rostekhnologii and the shareholders of Crescent Petroleum, with a total of $500 million. The Fund will implement transportation and logistics projects in Russia," Igor Sechin said.
The final agreement will be signed in September at a forthcoming business forum in Sochi, he said.
The deal was also discussed at a meeting between Russia Prime Minister Vladimir Putin and former Iraqi Prime Minister Ayad Allawi, Sechin said.