A senior Iranian energy official says Tehran has offered a 60-percent stake in a phase of its giant South Pars gas field in the Persian Gulf to Indian and Angolan companies.

India’s Oil and Natural Gas Corp (ONGC) and Hinduja will have a 40-percent share in phase 12 of South Pars gas filed, Director of Iran’s National Oil Company (NIOC) Seifollah Jashnsaz told reporters in New Delhi on Tuesday.
Jashnsaz also said a 20-percent stake in the development of the project was offered to Angola’s national oil company, Sonangol.
Naftiran Inter-Trade Company, NIOC’s subsidiary, will own 40 percent in the project that will be developed at a cost of $7.5 billion.
Gopichand P. Hinduja, co-chairman of Hinduja, said the project would be split equally between his group and ONGC — India’s biggest energy producer.
Phase 12 of South Pars gas field is to produce three billion cubic feet of gas per day.
R.S. Sharma, Chairman and Managing Director of ONGC, told Bloomberg on Wednesday that the Indian company’s officials would hold a meeting with the National Iranian Oil Company to discuss “specific opportunities” in Iran.
India is the world’s second fastest growing major economy and, according to Sharma, its domestic demand for oil may grow as much as four percent in 2010.
(Source: Press TV)