India has right to 30% stake in Iranian gas field even after contract to local firm
An Indian consortium led by ONGC Videsh Ltd contractually has a right to take a 30 per cent interest in the Farzad-B gas field development in the Persian Gulf even after Iranian decision to award rights of the giant field to a local firm, top officials said.
In February, 2020, National Iranian Oil Company (NIOC) informed Indians about its intention to conclude the contract for Farzad-B development with an Iranian company. In May this year, it awarded a USD 1.78 billion contract to Petropars group.
