Iran’s official energy news agency Shana says the unnamed block is near the Caspian Sea and could also be developed by China’s Sinopec.

ONGC Videsh, along with Tehran’s state-run Petropars, has previously signalled its intention to develop the Kish gas field in the Gulf, which holds 48 trillion cubic feet of gas (MEED 19:3:08).

The Indian firm also held talks with NIOC in 2007 over securing a minority stake in the Yadavaran field (MEED 14:12:07).