Farzad B development deal final before March 2017

TEHRAN, April 19 (Shana) –-Iran and India will most likely finalize a deal on development of Farzad B gas field by the end of the current Iranian calendar year to March 20 2017, a senior Iranian petroleum official said.

Managing Director of National Iranian Oil Company (NIOC) Roknoddin Javadi said the deal will be signed by the end of the current year provided that Tehran and Indian developers reach a consensus on technical and commercial terms of the deal for developing the field.

“We are still in talks with Indian developers and provided that technical and commercial discussions proceed as planned, a deal to develop Farzad B gas field will be signed between Iran and India,” the official said.

He said Indian developers will start appraising the project and will communicate their assessments to NIOC before a deal can be finalized.