Tag Archives | ONGC Videsh

ONGC Videsh, Iran’s IDRO Oil sign accord

By John Lee. India’s ONGC Videsh has reportedly signed a cooperation agreement with Iran’s IDRO Oil (Gostaresh Iranian Oil And Gas Industries Development Company) to jointly bid for a $900-million plan to develop the Susangerd oilfield in Khuzestan province. The field, discovered in 2009, is estimated to hold more than 5 billion barrels of in-place […]

ONGC Willing to Spend $11bn at Farzad-B

The managing director of India’s ONGC Videsh Ltd said the consortium is ready to spend as much as $11 billion to develop a giant natural gas field south of Iran. ONGC Videsh Ltd. has offered to invest as much as $6 billion on the Farzad-B field and spend the remaining amount to build a liquefied […]

Iran Signed Deal with Gazprom over Farzad B

Iran has signed a basic agreement with Russia’s energy giant Gazprom over the development of Farzad B gas field – a project which the country has for long been negotiating with an Indian consortium. The announcement over Farzad B agreement was made by Iran’s Petroleum Minister Bijan Zanganeh. Zanganeh said in an interview with Argus […]

Major Indian Investment in Farzad B Gas Field

Indian state-owned oil company ONGC Videsh plans to invest more than $3 billion to develop Iran’s Farzad B gas field in the Persian Gulf, a report said. ONGC Videsh last month submitted a revised plan to the Iranian government for the field, which the company will be able to develop within five years, Managing Director […]

Iran Approves 29 Int’l Companies for Oil Projects

Iran’s oil ministry has certified 29 international companies to bid for oil and gas projects in the country under its new format of oil contracts. According to the report by the oil ministry’s news website Shana, 29 companies, including Shell, France’s Total, Italy’s Eni, Malaysia’s Petronas and Russia’s Gazprom and Lukoil, as well as companies […]

Iran, India aim to Finalize Farzad-B Deal by March

The Indian government said Tehran and New Delhi aim to clinch a deal by March to develop Farzad-B gas field in the Persian Gulf, southern Iran. ONGC Videsh Ltd (OVL), the overseas investment arm of Indian explorer Oil and Natural Gas Corp, is preparing a master plan for development of Farzad-B, while also working on […]

India Sets Sight on Develpoment of Iranian Oil Field

The Indian Oil Corp (IOC) has made a bid to operate an Iranian oil field in the Persian Gulf, a report said. According to a report carried by the Economic Times, IOC, India’s largest oil company, is seeking to operate and produce crude oil from the Iranian field in an attempt to promote the South […]

India Hopes to Sign Deal for Farzad B Gas Field

India’s Oil minister Dharmendra Pradhan will push for state-run firms to win development rights for the vast Farzad B gas field in Iran during a visit to the Middle Eastern country next month. India, the world’s third-biggest oil importer and fourth-biggest consumer, wants to increase dealings with Persian Gulf countries that supply the bulk of […]

Indian Oil Minister to Visit Iran in April

Indian Oil Minister Dharmendra Pradhan is scheduled to visit Iran on April 6-7, official sources in New Delhi said. Accompanied by ONGC Videsh Ltd (OVL) Managing Director Narendra K Verma and Indian Oil Corp (IOC) Chairman B Ashok, Pradhan’s visit is aimed at engaging with leadership of the oil and gas rich nation that has […]

Indian Group makes pitch for Farzad B Field

By John Lee. India’s ONGC Videsh, the overseas investment arm of Oil and Natural Gas Corp, has submitted a revised proposal for the development rights of Iran’s giant Farzad B gas field. Managing Director N. K. Verma (pictured) told Reuters that a consortium headed by ONGC Videsh, and including Oil India and Indian Oil Corporation, […]