IRNA � Minister of Petroleum Bijan Zangeneh said on Saturday that during President Hassan Rouhani�s recent visit to India, the two countries agreed in principle on development of Farzad B oilfield.

He hoped that they will also reach agreement on the details of the project.

India�s involvement and investment in developing Iran�s oil and gas sectors was put forward during Indian Prime Minister Narendra Modi's visit to Tehran last year.

Indian oil and gas company ONGC Videsh has finalized a plan worth over three billion dollars to develop Farzad B oilfield, for which it has proposed amendments.

During Rouhani�s trip to India in mid-February, 15 documents were signed by the two countries.

Indian companies expressed interest in investing in Farzad B oilfield which was approved by the Iranian president.