OVL team submits $3 b plan for Iranian gas block
The block has one billion barrels of oil also National Iranian Oil will market the product After the successful discovery of crude oil in three wells of Farsi block in Iran, a consortium led by ONGC Videsh (OVL) and comprising Indian Oil Corporation and Oil India Limited (OIL) have submitted a proposal to invest about $3 billion to bring into production 12.8 trillion cubic feet (tcf) of gas reserves.