52260
India Thrashing Out Format for Gas Project
India Thrashing Out Format for Gas Project

India Thrashing Out Format for Gas Project

India Thrashing Out Format for Gas Project

India’s government is in “serious” negotiations with Iran on securing the development rights for Farzad-B Gas Field in the Persian Gulf, deputy oil minister for international affairs said.
Amirhossein Zamaninia made the statement on Tuesday on the sidelines of a meeting with an Indian delegation in Tehran, headed by Sanjay Sudhir, joint secretary of India’s Ministry of Petroleum and Natural Resources, Shana reported.
Referring to the extended talks with the Indian side on the Farzad-B field, Zamaninia urged India's state-owned Oil and Natural Gas Corporation Limited (ONGC) to speed up the finalization of its financial model for developing the gas field.
Sudhir said that the two sides are in the process of putting together a better format for the financial and technical terms of the project, but declined to say if and when the final agreement is possible.
Iranian Oil Minister Bijan Namdar Zanganeh told Mehr News Agency on Sunday that that ONGC’s last financial proposal for the project was not acceptable.
Iran has set a deadline for the Indian firm to submit a reasonable development plan.
“We won’t wait any longer for the Indians and if they fail to propose a sound financial proposal in the meeting planned for this month in Tehran, we will change our mind," Zanganeh said without elaboration.
Farzad-B Gas Field holds an estimated 508 billion cubic meters of in-place reserves, of which 370 bcm is recoverable.

Short URL : https://goo.gl/QgmLVo
  1. https://goo.gl/tGejHl
  • https://goo.gl/nCIOlj
  • https://goo.gl/kLLS3x
  • https://goo.gl/eAI4bs
  • https://goo.gl/faofsw

You can also read ...

Offshore drilling is expensive in a time of relatively low oil prices.
The US administration on Friday said it would offer the...
Egypt to Import LNG   From France
Egyptian Natural Gas Holding Company has arranged for the...
India to Increase Oil Imports From Iran
In April through January, the first 10 months of this fiscal...
UAE Committed to OPEC Output Reduction Deal
The UAE will remain committed to the global oil output...
The national gas network accounts for providing 70% of the country's energy.
In line with efforts to deliver natural gas to far-flung...
SP Phase 13 Ready to Deliver Sweet Gas
The first gas sweetening train in Phase 13 of South Pars Gas...
NPC Subsidiary, Foreign Firms in Scientific Coop.
The Petrochemical Research and Technology Company of Iran...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus