Iran to replace Indian co ? |
Iran has threatened to rope in Russian oil companies for developing the Farzad B gas field, replacing the consortium of Indian state-run entities that discovered it. The threat comes in retaliation to New Delhi`s move to cut purchase of Iranian oil over Tehran`s delay in awarding the block. Reports from Vienna quoted Iran`s oil minister Bijan Zanganeh as saying that he expected Russian firms to enter the field if the Indian consortium failed to come up with a satisfactory offer. Indian officials sought to downplay the statements made by Iranian authorities recently and said that the two countries remained positive about India`s role in developing the offshore field. However, sources said that Tehran has for some time now been toying with the idea of carving the block for companies from other countries and leave only a small part for the Indian consortium.While the two countries share a "cautious closeness" in the geopolitical arena, there has been in a stalemate over awarding the field since it was discovered in 2008 by a consortium led by ONGC Videsh Ltd, the overseas acquisitions arm of flagship explorer ONGC. India had stood by Iran through the sanctions over Tehran`s nuclear programme and continued to buy its crude after securing a US waiver, citing its rising appetite for oil.
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