TEHRAN (AFP) - Iran and China's Sinopec on Sunday signed a two billion dollar contract to develop a major Iranian oil field, a crucial deal for the Iranian energy industry at a time of mounting international pressure.

"The initial estimation of cost of the project is about 2.0 billion dollars and the final cost of the project will be decided after the offering of the tenders," said Iranian Oil Minister Gholam Hossein Nozari.

Sounds like things are getting better for us all the time. What I'm wondering now is, what denomination are they using since Iran doesn't take the dollar anymore and China keeps their Yuan low.