Indian Consortium Offers To Invest $11B In Iranian Oil Field

An Indian consortium led by ONGC Videsh has offered Tehran US$11 billion in investments into the Farzad-B natural gas field on the condition that the Iranian authorities can guarantee it a reasonable level of returns. Reasonable, according to ONGC, is 18 percent, according to the managing director of the company’s overseas investment arm, who spoke to Bloomberg. Negotiations between Indian companies and Iran on the development have been going on for a while now, with pressure building between the parties over the last couple of months…
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