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Industry
ONGC Videsh, IOC, OIL plan $3 billion investment in Iranian gas field

NEW DELHI: ONGC Videsh, Indian Oil Corporation and Oil India have together proposed to invest $3 billion in developing the Farsi gas field in Iran.

An official said the field holds recoverable gas reserve of about 12.8 tcf. The commercially proposal has been submitted to the Iranian authorities. The block also holds 1 billion barrels of oil reserves. - PTI

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