India has initiated a diplomatic push to ensure its toe-hold in the Farzad-B Iranian gas field and to avoid retendering for the Persian Gulf asset.
The diplomatic initiative to back ONGC Videsh Limited’s bid to develop the estimated 12.8-trillion cubic feet gas Farzad-B reserve was launched last month in New Delhi by the Indian External Affairs Minister Sushma Swaraj at the India-Iran Joint Commission meeting, where the Minister sought an early conclusion of the contract under the new Iranian Integrated Petroleum Contracts (IPC), a senior government official said.
