South Pars: Iran's flagship gas project set to take off with fresh investment expected from ONGC.
The investment proposal for South Pars Phase 12 will be sent to the government for approval, the unidentified ONGC official told the Times of India.
ONGC and compatriots, Petronet LNG and the Hindujas group, have entered into two broad agreements with Iranian authorities to develop gas fields and LNG projects on 1 December 2009, the Times of India reported.
Iran has in turn pledged a minimum supply of 6 million tonnes of LNG per annum on a long-term basis to India, the report said citing an anonymous source.
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