News ID: 238820
Published: 0330 GMT February 13, 2019

Iran in talks with India on Farzad B gas field: Official

Iran in talks with India on Farzad B gas field: Official

Talks with the Indian side on the development of Farzad B gas field in the Persian Gulf waters are in progress, announced the managing director of National Iranian Oil Company (NIOC).

Massoud Karbasian told Tasnim News Agency that the development of Farzad B offshore gas field has been NIOC's priority and negotiations with the Indians are in progress.

While Saudi Arabia has produced gas from Farzad B, Iran has not yet taken any practical steps to develop this joint field.

Indian companies have been in talks with Tehran since 2009 on developing Farzad B gas field, estimated to hold 21.68 trillion cubic feet (tcf) of gas in place, of which 12.8 tcf is recoverable.

Iran's Oil Minister Bijan Namdar Zanganeh recently said Iran is on pace to boost gas production to one billion cubic meters a day by March — roughly the same time that all South Pars phases are scheduled to be up and running.

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