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An Indian consortium led by ONGC Videsh Ltd contractually has a right to take a 30 per cent interest in the Farzad-B gas field development in the Persian Gulf even after the Iranian decision to award rights of the giant field to a local firm, top officials said. In February 2020, the National Iranian Oil Company (NIOC) informed Indians about its intention to conclude the
India loses ONGC-discovered Farzad-B gas field in Iran Top Searches India loses ONGC-discovered Farzad-B gas field in Iran PTI / Updated: May 17, 2021, 16:06 IST FacebookTwitterLinkedinEMail ONGC Videsh Ltd (OVL), the overseas investment arm of state-owned Oil and Natural Gas Corp (ONGC), had in 2008 discovered a giant gas field in the Farsi offshore exploration block. (Representative image) NEW DELHI: India on Monday lost the ONGC Videsh Ltd-discovered Farzad-B gas field in the Persian Gulf after Iran awarded a contract for developing the giant gas field to a local company. "The National Ir...
India loses Farzad-B gas field in Iran The field holds 23 trillion cubic feet of in-place gas reserves, of which about 60 per cent is recoverable. It also holds gas condensates of about 5,000 barrels per billion cubic feet of gas. Share Via Email | A+A A- By PTI NEW DELHI: India on Monday lost the ONGC Videsh Ltd-discovered Farzad-B gas field in the Persian Gulf after Iran awarded a contract for developing the giant gas field to a local company. "The National Iranian Oil Company (NIOC) has signed a contract worth USD 1.78 billion with Petropars Group for the development of Farz...
India loses ONGC-discovered Iranian gas field to local firm The field holds 23 trillion cubic feet of in-place gas reserves, of which about 60 per cent is recoverable. It also holds gas condensates of about 5,000 barrels per billion cubic feet of gas PTI | May 17, 2021 | Updated 19:20 IST The 3,500 square kilometer Farsi block sits in a water depth of 20-90 metres on the Iranian side of the Persian Gulf India on Monday lost the ONGC Videsh Ltd-discovered Farzad-B gas field in the Persian Gulf after Iran awarded a contract for developing the giant gas field to a local company. "The National ...