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Iran Proposes Joint Development of Farzad-B Gas Field to India

Iran has sent India a formal offer to negotiate the joint development of the Farzad-B gas field, said Iranian Oil Minister Bijan Zanganeh, adding that his country's firms would be capable of completing the project should India lose interest.

 

The Farzad-B gas field was discovered off Iran's coast by Indian companies in 2008. These firms have had priority tenders to develop the field but activities halted after tensions between and Iran and the West intensified.

 

"We first have sent a formal message of negotiation with Indians to start working according to the agreed frameworks, saying that we are interested in working with Indian companies to develop this oilfield.

 

But if Indian firms show no interest in cooperation, we will go ahead with the project with Iranian companies," Zanganeh said. The remarks were made at a meeting with the Iranian parliament's budgetary commission where Zargadeh submitted a report on the oil and gas sector, which includes development plans for Farzad-B, according to the media.

 

In 2017, Russian oil company Gazprom signed a memorandum regarding possible cooperation on several projects, among which were Farzad-B as well as a proposed Iran-Pakistan-India pipeline.

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