TEHRAN: Iranian Oil Ministry has withdrawn an earlier offer to Indian companies about participation in the development of Iran’s Farzad B gas field for their 14-year delay in fulfilling their commitments.
A delegation, headed by Shri Ashutosh Jindal, the director of India’s Ministry of Petroleum and Natural Gas, traveled to Tehran last week with a package of proposals to convince the Iranian officials of signing a contract with the Indian firms.
But sources in the Iranian Oil Ministry said that Tehran hasn’t accepted the Indians’ offer and has decided to withdraw its offer for the development of the country’s Frazad B gas field to Indian contractors and plans to put out the project to tender.
Indian companies have been in talks with Tehran since 2009 for developing the Farzad B gas field, estimated to hold over 13 trillion cubic feet of recoverable gas.
Iran has, several times, demanded India to begin, as early as possible, launching this project, but due to the unilateral sanctions imposed by the West, work on this project was suspended.
Under the contract, the Indian side had to, in 3 stages, carry out development of this field and extract 2 billion cubic meters of gas. However, work didn’t start.
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