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OVL-led consortium asks Iran for 30% share in Farzad B discovery

The company has written to the Iranian authority asking it to share the agreed technical proposal and contractual terms, and conditions for development

Topics
ONGC Videsh | oil and gas | Companies

Jyoti Mukul  |  Jyoti Mukul 



oil and gas, rig, exploration
In 2002, India bagged an exploration service contract (ESC) of the Farsi Block, under which OVL had a 40 per cent equity and Indian Oil and Oil India had 40 per cent and 20 per cent each

ONGC Videsh, the flagship overseas company of the Indian government, has asserted a minimum 30 per cent right in Iran's Farzad B discovery. The company has written to the Iranian authority asking it to share the agreed technical proposal and contractual terms, and conditions for development so that an Indian consortium can evaluate and decide further participation in the project.

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First Published: Tue, June 15 2021. 22:50 IST

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