Iran to sign $3 billion gas contract with consortium of Indian companies

[anant_s]

Iran has agreed a $3 billion contract with a consortium of Indian companies to develop the Farzad B gas field in the Persian Gulf, according to the Mehr news agency.

Saeed Hafezi, the director of the Falat Ghare oil company, said the lifting of sanctions means the consortium can resume development, according to Mehr.

The managing director of ONGC Videsh, the Indian company heading the partnership, said they had not yet been notified about the development.

“We have not received any communication from Iran on granting us the development rights,” N.K. Verma told Reuters.

Verma said that ONGC Videsh, the overseas investment arm of Oil and Natural Gas Corp, had visited Iran recently and that, under the proposal submitted by the Indian companies, the first phase of development of the Farzad B gas field would cost around $3 billion.

The goal of developing the first phase is to produce one billion cubic feet of natural gas each day, Hafezi said in the interview with Mehr.

The agreement between Iran and six world powers last July has cleared the way for an easing of sanctions, raising prospects for the gas field that is estimated to hold initial in-place reserves of 12.5 trillion cubic feet, with a lifetime of 30 years.
(Reporting by Babak Dehghanpisheh and Nidhi Verma, editing by Louise Heavens)
Iran to sign $3 billion gas contract with consortium of Indian companies| Reuters

 

[Sipahi]

India looting Iran with both hands

 

[anant_s]

India looting Iran with both hands

By investing close to USD 5 billion.
Interesting!

 

[Sipahi]

By investing close to USD 5 billion.
Interesting!

you are donating 5 Billion ??

 

[anant_s]

you are donating 5 Billion ??

Nobody is donating. India is investing USD 5 Billion (3 Billion in gas field Development and 2 billion in setting up an LNG Plant).
The investment will create employment opportunities and allow Iran to earn revenue by selling Gas.
Now how does this amount to looting?
& one more thing, India is importing oil from Iran for many years, this isn't first instance of India showing ineterst in Iranian energy sector.

 

[Sipahi]

Nobody is donating. India is investing USD 5 Billion (3 Billion in gas field Development and 2 billion in setting up an LNG Plant).
The investment will create employment opportunities and allow Iran to earn revenue by selling Gas.
Now how does this amount to looting?

The problem is when china invest, it is a looting, and when India invest, it is investing for good ?/

best example of

Twada Kutta kutta , sada kutta tommy

 

[[Bregs]]

Iran and India both have helped each other out in tough times and this oil field of Farzad has been on offer to India do develop but got delayed because of sanctions and now is the time to move forwards with some massive investments in this oil field

 

[anant_s]

The problem is when china invest, it is a looting, and when India invest, it is investing for good ?/

best example of

Twada Kutta kutta , sada kutta tommy

Who said China is looting somebody?
In today's cut throat competition, governments are best judge of protecting their economic interests and both China and India are vying to secure their energy interests globally.
Besides ONGC Videsh Limited (OVL), has Oil and Gas fields in several countries.

 

[DRDO KALI 10000]

The problem is when china invest, it is a looting, and when India invest, it is investing for good ?/

best example of

Twada Kutta kutta , sada kutta tommy

Who said china looting ? its western Propaganda, not Indian.
Bytheway I feel you are unnecessarily getting jealous. There is nothing you can do accept burning your blood for no return.

 

[AgNoStiC MuSliM]

India looting Iran with both hands

Think about this calmly and rationally - the Iranian's have shown themselves to be excellent negotiators when it comes to commercial agreements. While politics often plays a role, I strongly doubt the Iranians would enter into a contract here that would not be beneficial to them. There are plenty of global players lined up to take part in Iran's oil and gas sector now.

 

[nForce]

you are donating 5 Billion ??

Saudi Arabia and US did donate a lot to your country. How did that turn out for you ?

 

[Sipahi]

Saudi Arabia and US did donate a lot to your country. How did that turn out for you ?

Saudi money is our pain in @*** and american money is yours

 

[nForce]

Saudi money is our pain in @*** and american money is yours

hahaha.. i wish it was mine.. I would have bought a bungalow in Mauritius and retired... hahahaha

 

[$@rJen]

India looting Iran with both hands

So today you're full of Jealous on Indian sections.... Too much buttHurt is not good for you.. take a break Kid

 

[Sipahi]

hahaha.. i wish it was mine.. I would have bought a bungalow in Mauritius and retired... hahahaha

So today you're full of Jealous on Indian sections.... Too much buttHurt is not good for you.. take a break Kid

No just return from a month long PL and enjoying PDF