Jan 7, 2019, 4:58 PM
News Code: 83162254
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India to auction 23 oil & gas areas

Tehran, Jan 7, IRNA – The Indian Oil Secretary announced that Iran is scheduled to auction 23 oil and gas areas, Indian media 'Energy World' reported.

'India will auction 23 blocks in a third round of offerings under the open acreage licensing program for oil and gas exploration concessions,' the country's oil secretary, Indian media quoted M.M Kutty as saying on Monday

'Five of the 23 blocks to be auctioned will be for coal-bed methane resources, he added.

This is while, Iranian Foreign Minister Mohammad Javad Zarif, heading a high-ranking delegation, is to attend the annual international conference of the Raisina Dialogue which is slated to be held in India.

The main goal of the visit, according to Indian media 'The Print', 'will be to discuss how to continue doing business transactions in Indian currency and all the modalities around it in the wake of the sanctions imposed by the US, while providing a platform for Iranian businesses to explore investment opportunities in India.'

Ways to expand India-Iran cooperation on the Chabahar port project will also be discussed. The project has been recently exempted from the US sanctions against Iran due to India's investment in it as well as the importance of the port to Afghanistan's development.


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