Tehran, Iran, Feb. 13
Trend:
The CEO of the National Iranian Oil Company (NIOC) Masoud Karbasian has said the country is continuing to negotiate with India to develop the Farzad B gas field.
“Development of the joint gas field is a priority of the National Iranian Oil Company and it is continuing negotiations with India,” he said, Trend reports citing Tasnim.
While Saudi Arabia is producing gas from the joint Farzad field, Iran has not implemented any operation to develop the field, the official noted.
In 2008, Indian companies were first to discover the Farzad B gas field and later made bids for the development rights of the field. Farzad B is estimated to hold more than 500 billion cubic meters of in-place gas reserves, of which 370 billion cubic meters are recoverable.