Haven’t Heard From Iran On USD 11 Billion Offer For Gas Field: ONGC Videsh

Haven’t Heard From Iran On USD 11 Billion Offer For Gas Field: ONGC Videsh

ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), on Monday said it hasn’t heard from Iran on the USD 11 billion ‘best offer’ it gave for developing the Farzad-B gas field.

“We are ready to invest provided we get reasonable returns,” OVL Managing Director Narendra K Verma told reporters here.

OVL has offered to invest about USD 5.8 billion in developing the Farzad-B gas field and another USD 5 billion to build a liquefied natural gas export facility, he said. Read More…

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