A contract should be signed by September, Iranian Offshore Oil Company (IOOC) managing director Hamid Bovard told Upstream.

The proposed $3 billion Farzad B development is expected to later involve liquefaction facilities, with the output probably destined for India.

IOOC told Upstream that both sides in the negotiations are aiming for an early deal. One key issue is a pricing formula.

“We should finish (the talks) in six months,” said Bovard.

“We