Iran: Local contractor takes Farzad-B order

Issue 1126 - 20 May 2021

National Iranian Oil Company (NIOC)’s upstream contracting subsidiary Petropars on 17 May announced it would develop the offshore Farzad-B gas field, which straddles the maritime border with Saudi Arabia. As well as its geopolitical significance and filip for Iranian claims to be able to go it alone, the deal was widely reported as putting an end to Indian state Oil and Natural Gas Corporation (ONGC)’s long-held hopes of landing the contract.

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