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India's claim on the Farzad block-III: Iran likely to move quickly to award development contract.  
India's claim on the Farzad block-III: Iran likely to move quickly to award development contract
Jul 20: The Iranians are not known to take decisions on matters involving foreign investment in their oil & gas sector unless they are pushed into a corner. 
 
8A fear that strategic rival Saudi Arabia will steal a march on their side of the overlapping Farzad B offshore field is likely to send Iran scurrying to quickly finalize a deal for developing the Iranian side of the block. Saudi Arabia has already begun development on its side of the field. 
 
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The Iranians would want any partner to begin work as soon as possible lest the Saudis steal a march and begin siphoning gas from this gigantic field.
 
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The Iranians had at one point in time said that while OVL was pussyfooting on the block, Saudi Arabia was taking advantage of the hydrocarbon resources lying on their side of the block. The Farsi block, covering an area of 3,500 aq. km, is located approximately 90 km off the shore of Iran in the Persian Gulf, close to the offshore boundary with Saudi Arabia, with sea depth varying from 20 m to 90 m. The Saudi side of the block is also meant to be hydrocarbon rich and the country is already tapping the reservoir for exploitation. 
 
8There is likely to be a lot of jostling for a slice of the action in the block and it is imperative that OVL positions itself a manner that it is not pushed out of the game

 
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