IOC-Petropars may get iran project

Iran is likely to award a gas block in South Pars field to Indian Oil Corporation-Petropars consortium for the $3 billion LNG project of the state-owned company which plans to use French or German technology.

IOC has teamed up with Petropars of Iran for bringing to production one of the 28 phases planned to develop the 500 sq mile South Pars field, and produce 9 million tonnes per annum of liqufied natural gas (LNG) to export to India and other countries.

"IOC-Petropars have submitted a plan to National Iranian Oil Co (NIOC) for development of the block and production of LNG.