Iran Awaiting OVL’s Final Position on Farzad-B Gas Project

Oil Minister Bijan Namdar Zanganeh said Tuesday the National Iranian Oil Company has invited the Indian consortium led by ONGC Videsh Ltd (OVL) to negotiate for the last time on the development of Farzad-B Gas Field in the Persian Gulf. 
"OVL, the foreign investment arm of India’s Oil and Natural Gas Corp. has yet not responded to the invitation. We are waiting… if they do not come domestic firms will take over," Zanganeh was quoted as saying by ISNA.
According to the minister, NIOC is drawing up a new economic development plan and is ready to sign a deal that has been on hold for years. He did not provide details but said there are no problems regarding technicalities.