Oil Minister Bijan Namdar Zanganeh said on Saturday negotiations are underway with an Indian consortium led by ONGC Videsh Ltd, the foreign investment arm of India’s Oil and Natural Gas Corp. to expand Farzad B Gas Field in the Persian Gulf.
"There is no concern regarding technicalities. But the Indian company (seemingly) has financial considerations that is why talks have not produced the desired results," Zanganeh was quoted as saying.
The National Iranian Oil Company is ready to sign the deal that has been plagued by delays and years of procrastination, he concurred.
Putting the ball in India's court, the minister said, "ONGC has yet not taken a final decision. NIOC is waiting… they should come forward," adding that Tehran and New Delhi are trying to narrow differences over investments and the gas price.
April 06, 2019 16:33
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Iran Awaiting India’s Decision on Farzad B Gas Field
ONGC has reportedly proposed that NIOC buys the gas after it is extracted, but the fact is that the latter neither needs the gas nor has the money to purchase it
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