Iran oil executive says waiting for proposal from Indian partner to develop Farzad-B

Tehran, May 27, IRNA – Iranian Oil executive said on Friday that Pars Oil and Gas Company is interested in receiving a proposal from Indian partner to develop Farzad-B gas field.

Managing-Director of Pars Oil and Gas Company Ali Akbar Shabanpour said that negotiations have been held with the Indian partner and that the Iranian party is waiting a model proposal from the Indian partner for cooperation.

He said that the proposal will focus on financial issues on the basis of output quota from the gas and the gas condensates.
He said that National Iranian Oil Company will study the Indian model for financial issues and if confirmed, the next stage of negotiations will be arranged on HOA terms.

He made clear that Pars Oil and Gas Company is in charge of examining the technical proposals from the Indian partner to develop Farzad-B gas field, but, NIOC will carry out the feasibility sudies for the gas field.
Farzad-B gas field is estimated to possess 21,68 trillion cubic feet in-place gas reserve and 12.8 trillion cubic feet natural gas and 212 million barrels gas condensates.
1416**1416Managing-Director of Pars Oil and Gas Company Ali Akbar Shabanpour said that negotiations have been held with the Indian partner and that the Iranian party is waiting a model proposal from the Indian partner for cooperation.

He said that the proposal will focus on financial issues on the basis of output quota from the gas and the gas condensates.
He said that National Iranian Oil Company will study the Indian model for financial issues and if confirmed, the next stage of negotiations will be arranged on HOA terms.

He made clear that Pars Oil and Gas Company is in charge of examining the technical proposals from the Indian partner to develop Farzad-B gas field, but, NIOC will carry out the feasibility sudies for the gas field.
Farzad-B gas field is estimated to possess 21,68 trillion cubic feet in-place gas reserve and 12.8 trillion cubic feet natural gas and 212 million barrels gas condensates.
By IRNA