Iranian Oil Company (NIOC) next week to pick up 20-25 per cent stake in phase-12 of South Pars gas field in Persian Gulf.
Top NIOC brass is visiting New Delhi next week where ONGC proposes to “conclude substantive discussion” in picking up oil equity in Persian Gulf. R S Sharma, chairman and managing director at ONGC, told Bloomberg on Thursday that ONGC would discuss ‘specific opportunities’ with executives from NIOC next week. “In import-dependent countries like ours, we have to see where the future sources of energy supplies are,” Sharma said. “Iran, they have the second-largest crude oil and gas reserves and they are not very well exploited.” The South Pars is a natural gas condensate field located in the Persian Gulf. It is the world’s largest gas field, shared between Iran and Qatar. At present, Petropars, the unit of NIOC holds rights for the field. The field's development has been divided into 28 stages.
Full Story: ONGC likely to pick 25% stake in Iranian gas field - mydigitalfc.com
Top NIOC brass is visiting New Delhi next week where ONGC proposes to “conclude substantive discussion” in picking up oil equity in Persian Gulf. R S Sharma, chairman and managing director at ONGC, told Bloomberg on Thursday that ONGC would discuss ‘specific opportunities’ with executives from NIOC next week. “In import-dependent countries like ours, we have to see where the future sources of energy supplies are,” Sharma said. “Iran, they have the second-largest crude oil and gas reserves and they are not very well exploited.” The South Pars is a natural gas condensate field located in the Persian Gulf. It is the world’s largest gas field, shared between Iran and Qatar. At present, Petropars, the unit of NIOC holds rights for the field. The field's development has been divided into 28 stages.
Full Story: ONGC likely to pick 25% stake in Iranian gas field - mydigitalfc.com
