Iran has given the contract for the development of Farzad-B gas field to the local company.
Farzad-B Gas Field in the Persian Gulf of Iran has gone out of India’s hands. Iran has given the contract to develop this gas field to one of its own companies, the Petropars Group.
New Delhi. Iran has given a severe blow to India. In fact, Farzad-B Gas Field in Iran’s Persian Gulf has slipped from India’s hands. Iran has given the contract to develop this huge gas field to a local company of the country, the Petropars Group. Explain that this gas field was discovered by ONGC Videsh Ltd of India. Farzad-B gas field has 23 trillion cubic feet of gas reserves According to a report by Iran’s state-run news service Shana, the National Iranian Oil Company (NIOC) gave the contract to the Petropars Group to develop this gas field, giving a blow to India. The agreement between the National Iranian Oil Company and the Petropars Group was signed in Tehran on 17 May 2021 in the presence of the Iranian Petroleum Minister. Explain that there is a 23 trillion cubic feet gas reserve in the Farzad-B gas field. Out of this, up to 60 percent of the gas can be extracted. Apart from this, there are gas condensates in this gas field, which contains 5000 barrels per billion cubic feet of gas. read this also- AirAsia facilitates free cancellation of flights, can also reschedule travel28 million cubic meters of gas can be extracted daily for 5 years According to the report, 28 million cubic meters of gas can be extracted from this gas field every day for the next 5 years. The Farzad-B gas field was discovered by ONGC Videsh Limited in the Persian Gulf i.e. Persian Offshore Exploration Block in the year 2008. ONGC Videsh had offered Iran an investment of $ 11 billion to develop this gas field. Iran’s National Iranian Oil Company has been sitting on this proposal of India for years and now it has completely left India.