India Eyes Investment in Iran`s Farzad B Gas Field

Iranian Oil Minister Bijan Zangeneh underlined that Tehran and New Delhi are negotiating to boost cooperation in the field of development of Farzad B gas field.
`Talks with Indian developers are still underway for development of Farzad B gas field.` Zangeneh said.
Zangeneh reiterated that the Iranian oil ministry is holding talks with India`s ONGC Videsh Ltd over development of Farzad B gas field.
`To prevent losing time. we are holding parallel talks with Russia`s Gazprom company over the project.` the Iranian oil minister said. adding Iran has also started studies over the field and may consider an alternative method for its development.
Farzad B was discovered by OVL in the Farsi block about 10 years ago. The project has so far cost the OVL-led consortium. which also includes Oil India Ltd and Indian Oil Corp (IOC). over USD 80 million.

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