OVL to bid for Iran's South Azadegan oilfield, rework Farzad-B cost

摘要

ONGC Videsh Ltd. (OVL), the overseas arm of Oil and Natural Gas Corp (ONGC), will reportedly bid for development rights of Iran's giant South Azadegan Oilfield in direct competition with the likes of global giants like Shell, France's Total, Petronas of Malaysia and Russia's Gazprom. OVL will also rework the $6.2-bn cost of developing the Farzad-B gas field in the Persian Gulf, which it had discovered a decade back, to get Iran to award rights of the field to it.