NEW DELHI Nov 27 Indian state explorer Oil and
Natural Gas Corp (ONGC.BO) is seeking a 20-25 percent stake in
a $7.5 billion phase-12 project of Iran's South Pars gas field,
media reports said on Friday.
ONGC's overseas investment arm, ONGC Videsh Ltd, will hold
talks with officials of National Iranian Oil Co next week, the
Business Standard newspaper said, citing local news agency
Press Trust of India.
The Hinduja group is also interested in developing the
project, it said.
ONGC Chairman R.S. Sharma declined to comment on the
Iran, which has the world's second-largest gas reserves
after Russia, has estimated it would require $40 billion to
develop the remaining phases of the South Pars fields within 10
(Reporting by C.J. Kuncheria; Editing by Ranjit Gangadharan)
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