Question : INDO IRAN COOPERATION IN HYDROCARBON SECTOR

(a) whether the Government has held meeting and reviewed on-going cooperation with Iran in the hydrocarbon sector;

(b) if so, the details thereof;

(c) whether various issues like marine insurance, the development of Farzad B gas field, trade balance between the two countries, etc. have been taken up by the leaders of both the countries;

(d) if so, the details thereof along with the issues on which leaders of both the countries have agreed for cooperation;

(e) whether the Government of Iran has proposed a new formula on production sharing contracts to public Sector Oil Companies to attract investment in oil and gas fields including Farzad B gas field; and

(f) if so, the details thereof and the response of the Union Government thereto?

THE MINISTER OF STATE IN THE MINISTRY OF PETROLEUM AND NATURAL GAS (SMT. PANABAAKA LAKSHMI)

(a) to (d). Several rounds of discussions at the Government to Government level have taken place with Iran to enhance overall bilateral co-operation including balance of trade. On 27th May, 2013 discussions were held between the Oil Minister of Iran and the Minister for Petroleum & Natural Gas, Government of India at New Delhi. It was agreed to enhance overall cooperation in the hydrocarbon sector and encourage Indian companies to maintain their engagement in terms of crude oil purchase taking into account their requirements based on commercial consideration and the international situation.

(e) & (f). During visit of an Indian delegation to Tehran in January, 2013 the Iranian side expressed willingness to consider different models for E&P activities by Indian companies in Iran.