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:
- (a)Iran
- (b)Iraq
- (c)Saudi Arabia
- (d)Indonesia
Answer to prelims question