28 Mar 2024
Monday 18 April 2016 - 10:36
Story Code : 209991

India delighted given VIP status in Iran's Farzad B gas field project

Indian top diplomat Sushma Swaraj has welcomed Tehran's decision to reserve the Farzad B gas field in Iran for joint development, the Indian Ministry of External Affairs said on Sunday.





Swaraj arrived inTehran onSaturday, kicking offher four-day diplomatic tour ofIran and Russia. She met withIran's Foreign Minister Mohammad Javad Zarif onSunday, discussing a wide range ofbilateral and international issues.
"Both sides discussed the energy partnership betweenIndia and Iran On Farzad B, both sides took note ofthe constructive discussions held duringthe recent visit toIran ofMoS PNG [Ministry ofPetroleum and Natural Gas]. The Indian side welcomed the Iranian decision tokeep the Farzad B field outsidethe auction basket," Indian Foreign Ministry spokesman Vikas Swarup said ina statement.




Earlier this month, Iran and India agreed tosign a contract todevelop the Farzad B gas field natural gas field inthe Persian Gulf byOctober.

Companies involved inthe deal were given deadlines tocomplete negotiations, the spokesman noted, adding that India had previously been provided witha pricing formula forFarzad B gas.

Farzad B, withestimated reserves of12.8 trillion cubic feet ofgas, was opened in2008 bya consortium ofthree Indian companies: ONGC Videsh, Oil India and Indian Oil.

The field has been left undeveloped due tointernational anti-Iran sanctions that have gradually begun tobe lifted this year.
By Sputnik
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