Tehran Times: India's ONGC Videsh strikes oil in Iran block

[Bhaisahab]

MUMBAI (Reuters) — ONGC Videsh Ltd., the overseas arm of India's state-run flagship explorer Oil and Natural Gas Corp. Ltd. (ONGC) , has found oil in Iran's Farsi exploration block, a top company official said on Tuesday.

"We have struck oil in the block and are still testing the discovery," the official, who would not be named, told Reuters.

The Farsi block is spread across 6,700 km (4,163 miles) in the Persian Gulf and sits in water depths of up to 90 meters.

An ONGC spokesman declined comment on the news. Shares in the firm were up 1.14 percent at 881 rupees in a firm Mumbai market.

ONGC Videsh, which is the block operator, owns 40 percent of the asset. India's top state-run refiner Indian Oil Corp. Ltd. also has 40 percent, and Oil India Ltd. the rest.

continued at:
http://www.tehrantimes.com/Description.asp?Da=11/15/2006&Cat=9&Num=3

[AIJ Alom]

1. Thanks for the post Mad Dog (pagaal kutta) !

Now will Iran claim this oil for itself ? I know many American companies that would have loved to have made this discovery. Too bad we had to overthrow Mossadique in the 70's. All's well as long as the Shah is well.

[Bhaisahab]

3. you're welcome. i prefer 'crazy cur' though :) n/t

[AIJ Alom]

4. cur ??? What's a cur ?

Is that like a mountain dog ? Sorta like those dogs, St. Bernard's that would find stranded hikers ?

[xchrom]

2. lol -- more oil in iran? ah the smell of irony in the morning.