Farzad B

Why in news?

• India is still hopeful it can participate in the Farzad B natural gas field development in the Persian Gulf after Iran decided to go ahead with the project without foreign participation

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