Iran, India to Discuss Farzad B Gas Field This Week

India and Iran will discuss cooperation in the development of Farzad-B gas field this week.

“Talks on the Farzad-B field are expected to extended for some time, and the Pars Oil and Gas Company will carry out the negotiations about the field,” state owned news agency Shana quoted Amir-Hossein Zamani-Nia, Iran’s deputy petroleum minister for international affairs and commerce, as saying on Monday.

Indian oil minister Dharmendra Pradhan is expected to visit Tehran on April 6 and 7.

The block was discovered by a consortium of state owned companies, ONGC Videsh (OVL), Oil India and Indian Oil Corp in 2008. The consortium did not move forward with the project after sanctions were imposed on Iran.

With sanctions now gone, New Delhi is looking to increase engagement with Iran for the development of Farzad-B gas field in the Persian Gulf.