Iran awaits India’s proposed financial model for Farzad

The managing director of Pars Oil and Gas Company (POGC), Ali Akbar Sha’abanpour said Iran awaits India’s proposed financial model for the development of Farzad B gas field. The official stated that the negotiations between the two countries are continued and Iran is waiting for India to propose its financial model for the project based on the shares of produced gas and condensates.

Sha’abanpour added that once Iran receives the proposed plan, if confirmed, further talks would be started based on HOA contract model. He claimed that POGC is in charge of evaluating India’s technical propositions for the development of Farzad B, though the field’s financial justification is in National Iranian Oil Company (NIOC) jurisdiction. Indian oil minister is hopeful to convince Iran to grant the development plan of Farzad B gas to the Indian ONGC Videsh company. Farzad B gas field is one of the biggest natural gas fields that India has been explored beyond its borders.

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