OVL-led consortium asks Iran for 30% share in Farzad B discovery

ONGC Videsh, the flagship overseas oil and gas company of the Indian government, has asserted a minimum 30 per cent right in Iran's Farzad B discovery. The company has written to the Iranian authority asking it to share the agreed technical proposal and contractual terms, and conditions for development so that an Indian consortium can evaluate and decide further participation in the project.
 
Pars Oil and Gas Company and Petropars Company on May 16 had signed a contract for the development of Farzad B field worth $1.78 billion for 28 million cubic metre a day of sour gas production