Azerbaijan, Baku, Dec. 3 / Trend /
The Indian companies will invest $10 billion in Iran's oil and gas fields and the LNG (liquefied natural gas) project, National Iranian Oil Company (NIOC) Managing Director Seifollah Jashnsaz was quoted as saying by the Iranian Shana news agency.
India's Oil and Natural Gas Corporation (ONGC) and its companions will invest $10 billion in Iran's two gas fields and the LNG (liquefied natural gas) project, he added.
According to him, yesterday the Indian companies ONGC, the Hinduja group and the NIOC signed an agreement to acquire the possibility of 40-percent participation in the 12-th phase of the South Pars project.
The twelfth phase of the South Pars project is the largest phase among the 28 phases of the project and its implementation requires $7.5 billion investments.
According to him, the ONGC, Petronet LNG and ELPS also signed an agreement for a 20-percent participation in Iran's LNG project. The LNG project requires $4 billion investment.