ONGC may co-develop Farzad B under new Iranian contract model

Offshore staff

TEHRAN, Iran – Pars Oil & Gas Co. says the new Iran Petroleum Contract model may be applied for development of the Farzad B gas field in the Persian Gulf.

Managing director Ali Akbar Shabanpour told news service Shana his company is in talks with Indian contractors on the project which was previously assigned to ONGC India under the now defunct buyback contract terms.

A consortium led by ONGC Videsh with investments by ONGC India proved gas in the Farsi offshore block and has indicated interest in Farzad B.  

Development of the Farzad A and B fields could cost around $9 billion.

The first section of the platform for the Foruzan oil field in the Persian Gulf – a 7,800-ton structure – will be manufactured in Khoramshahr Port’s yard by IOEC with supervision from South Korean engineers, according to a separate Shana report.

The completed platform should double production from the field to 80,000 b/d.


Share your news with Offshore at

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...