India’s ONGC Videsh is to hold talks with Iran’s Petroleum Ministry to develop a new oil block in the north of the country.
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).
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