Exploration & Production

ONGC Videsh looks elsewhere as Iranian project is delayed

India’s ONGC Videsh has turned its attention to non-Iranian projects while it waits for a decision from Tehran on the Farzad B gas development.
By Staff reporter 3 November 2017 0 28240

India’s ONGC Videsh has turned its attention to non-Iranian international projects for potential investment while it waits for a decision from Tehran on the Farzad B gas development, the Indian company’s managing director told Reuters.

"We have been extremely flexible in our dealing with Iran and hoped that Farzad will add to our output target but the deal is not yet finalised. In the meantime we are looking for producing assets elsewhere to boost our output," N.K. Verma said.

ONGC has been negotiating