Iran wanted to involve India at later stage in development of Farzad-B gas field: MEA

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Ministry of External Affairs (MEA) spokesperson Arindam Bagchi
Ministry of External Affairs (MEA) spokesperson Arindam Bagchi

New Delhi [India], May 20 (ANI): Ministry of External Affairs (MEA) spokesperson Arindam Bagchi on Thursday said that Iran wanted to involve India at a later stage in the Oil and Natural Gas Corporation (ONGC) Videsh-discovered Farzad-B gas field in the Persian Gulf.

"Iran had decided to develop the Farzad B gas field on its own and wanted to involve India at a later stage," MEA spokesperson Arindam Bagchi said at his weekly media briefing.

"The involvement of the Indian consortium is underway and we are in touch with Iranian authorities," Bagchi said.

Iran signed a USD 1.78 billion contract with the Tehran-based Petropars Group for the development of the Farzad B gas field in the Persian Gulf, Anadolu agency reported citing the Iranian oil ministry.

It further reported that the Farzad B joint gas field, situated in the Farsi bloc, about 20 kilometers from the Farsi Island on the Iranian-Saudi border is estimated to possess 23 trillion cubic feet of natural gas reserves, 12.8 trillion cubic feet of natural gas and 212 million barrels of gas condensates.

A consortium of three Indian companies -- ONGC, Oil India Limited and Indian Oil Corporation discovered the field in 2008. (ANI)

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