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May 25th, 2016 
Awake Goy A new report says India’s largest oil company seeks to operate an Iranian oil field in the Persian Gulf.
According to the Economic Times, Indian Oil Corp (IOC), has made a bid to operate and produce crude oil from the Iranian field as part of India’s efforts to boost energy ties with Iran.
The report said another Indian firm, ONGC Videsh Ltd which is the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), has also offered to develop a couple of oil fields in the Persian Gulf.
It said the fields are part of 16 oil discoveries in the region.
The OVL is already said to be in talks to further develop Iran’s Farzad-B offshore field. The Indian company discovered the Farzad-B field in the Persian Gulf in 2008. The field holds 12.5 trillion cubic feet of recoverable reserves.
Sources said India has also expressed interest in investing in chemicals, petrochemicals and fertilizer plants in Iran. It also is looking at setting up an ammonia/urea plant in Chabahar Free Trade Zone.
India on Monday sealed a deal with Iran to develop the country’s southeastern port – a project expected to eventually create a regional trade, investment and transportation hub with links from the Indian Ocean to Central Asia.
The deal was signed in Tehran in the presence of Iran’s President Hassan Rouhani and the visiting Indian Prime Minister, Narendra Modi.
Iran’s Ports and Maritime Organization (PMO) struck the deal with India Ports Global Private Limited (IPGPL).
Accordingly, the IPGPL will develop two terminals and five multi-cargo berths in Phase-1 of the Chabahar port project. India’s investment in phase-1 will be about $500 million.
From Chabahar port, the existing Iranian road network can link up to Zaranj in Afghanistan, about 883 km from the port. The Zaranj-Delaram road constructed by India in 2009 can give access to Afghanistan’s Garland highway, setting up road access to four major cities — Afghanistan-Herat, Kandahar, Kabul and Mazar-e-Sharif, India’s media reported.
Chabahar will be used to ship crude oil and urea, saving India transportation costs. India intends to lease two berths at Chabahar for 10 years. The port will be developed through a special purpose vehicle (SPV) which will invest $85.21 million to convert the berths into a container terminal and a multi-purpose cargo terminal.
The deal to develop Chabahar was part of a series of 12 agreements that India and Iran signed to increase cooperation in various areas.
By Press TV
Source Article from http://theiranproject.com/blog/2016/05/25/new-delhi-seeks-run-operations-iranian-oil-field/
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