Iran, India move closer on Farzad B gas field development

Offshore staff

TEHRAN, Iran – Ali Akbar Shabanpour, managing director of Pars Oil and Gas Co., says he hopes to complete negotiations with ONGC next month on development of the Farzad B gas field in the Persian Gulf, according to Iranian news service Shana.

An Indian delegation was due to arrive in Iran over the weekend to negotiate the financial investment issues.

ONGC Videsh also discovered Farzad B.

Shabanpour added that Iran was now looking to develop all remaining phases of the South Pars field in the Persian Gulf, now the government has greater access to international finance.

By end-March 2017 he expects five more phases to come onstream, lifting Iran’s gas extraction from the field to 100 MMcm/d.

08/15/2016

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