 "Iran")
The setback at the Farzad-B gas field in Iran has raised the stakes for India in the operation of Chabahar Port, located in the south-east of Iran on the Gulf of Oman. Last week, after chasing India to develop the field for 13 years, Iran announced that it will develop the offshore gas field, which runs along the country's maritime border with Saudi Arabia, cutting off India’s ONGC Videsh (OVL)’s hopes of landing the lucrative contract.
Farzad-B’s recoverable reserves are about half of total reserves of India, so that made it a big deal. Having led the consortium that discovered
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