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DAILY NEWS ANALYSIS

  • 18 May, 2021

  • 3 Min Read

Iran to develop Farzad B gas field domestically

Iran to develop the Farzad B gas field domestically

  • Iran on Monday gave the Farzad B gas field to Petropars, a domestic gas producer.
  • This is a setback for India’s energy ties with Iran as ONGC Videsh Ltd (OVL) discovered the gas field in 2000 and has been part of the ongoing cooperation on that front.
  • The Ministry of External Affairs has not yet commented on the development but OVL had discovered the Farzad B gas field in the Farsi region, which is located between the Iranian and Saudi territories.
  • Monday’s deal in Iran comes despite India’s long-standing cooperation regarding the gas field and is indicative of the impact of the U.S. sanctions on India-Iran energy cooperation, which had been drastically reduced during the Donald Trump administration in the U.S.
  • Last year, Mr Zanganeh had indicated that foreign talks on the Farzad B block had become difficult because of the sanctions. Monday’s deal will pave the way for daily production of 28 million cum of gas over five years, reported Shana.

Source: TH


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05 Apr,2026

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