Sarjen29
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India allowed to develop Farzad-B gas project
In a major win for India, the Hassan Rouhani-led Iranian government has agreed to allow public sector firms ONGC Videsh, Oil India and Indian Oil...
In a major win for India, the Hassan Rouhani-led Iranian government has agreed to allow public sector firms ONGC Videsh, Oil India and Indian Oil (IOC) to develop the prolific Farzad-B gas project in Iran.
The development comes after a recent visit by an Indian delegation to Tehran, on the heels of the Islamic nation’s landmark deal with six other global players spanning over 20 months, to curtail sanctions levied on the energy-rich country for its alleged nuclear activities.
Getting access to energy-rich assets overseas is seen as one of the primary goals of the Prime Minister Narendra Modi-led government, to feed the increasing demand at home.
“Iran has said that the Farzad-B field is available for development. The modalities are to be worked out, which they have asked India to submit,” Biswajit Roy, director (human resources and business development) of Oil India told mediapersons in New Delhi.
Roy explained that though their Iranian counterparts have not given any written commitment, “verbally” they have asked Indian firms to submit the plan at the earliest. India would have to submit a detail field development plan for the prolific block.
In a major win for India, the Hassan Rouhani-led Iranian government has agreed to allow public sector firms ONGC Videsh, Oil India and Indian Oil...
In a major win for India, the Hassan Rouhani-led Iranian government has agreed to allow public sector firms ONGC Videsh, Oil India and Indian Oil (IOC) to develop the prolific Farzad-B gas project in Iran.
The development comes after a recent visit by an Indian delegation to Tehran, on the heels of the Islamic nation’s landmark deal with six other global players spanning over 20 months, to curtail sanctions levied on the energy-rich country for its alleged nuclear activities.
Getting access to energy-rich assets overseas is seen as one of the primary goals of the Prime Minister Narendra Modi-led government, to feed the increasing demand at home.
“Iran has said that the Farzad-B field is available for development. The modalities are to be worked out, which they have asked India to submit,” Biswajit Roy, director (human resources and business development) of Oil India told mediapersons in New Delhi.
Roy explained that though their Iranian counterparts have not given any written commitment, “verbally” they have asked Indian firms to submit the plan at the earliest. India would have to submit a detail field development plan for the prolific block.
