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Farzad B gas field

2020 JUL 17

Preliminary   > Geography   >   Places in news   >   Places in news

 

Why in news?

  • In a big setback for India, Iran is likely to deny ONGC Videsh Ltd (OVL) exploration and production rights for the prestigious Farzad B gas field.

About Farzad-B:

  • The Farzad B gas field is an Iranian natural gas field discovered by OVL in 2012.
  • It is an offshore gas field located in Persian Gulf.
  •  It began production in 2013 and produces natural gas and condensates.
  • The total in place reserves of the Farzad B gas field are around 21.7 trillion cubic feet (620×109m3) of which around 60 percent is recoverable.
  • If India gets a share of this gas, it could reduce its dependence on expensive LNG.
  • The OVL led consortium, which also includes Oil India Ltd and Indian Oil Corp (IOC), has invested close to $100 million in the project.

Prelims question

Farzad B gas field is located in:

  1. (a)Iran
  2. (b)Iraq
  3. (c)Saudi Arabia
  4. (d)Indonesia

Answer to prelims question