VOL. XLV

No 44

4-November-2002

IRAN

Farsi Exploration Block Earmarked For Indian Consortium

The National Iranian Oil Company (NIOC) has earmarked the Farsi offshore exploration license for an Indian consortium led by ONGC Videsh, the international exploration and production subsidiary of Indias Oil and Natural Gas Corporation (ONGC). The group is negotiating with NIOC to finalize terms, but the official news agency, IRNA, reported that the consortium planned to invest about $30mn over four years....