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Article: BUSINESS IN ASIA TODAY - JUNE 26, 2009.

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AsiaPulse News
Article date:
June 26, 2009
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Business in Asia on June 26, 2009. A summary prepared by Asia Pulse (http://www.asiapulse.com), the real-time, Asia-based wire with exclusive news, market intelligence and business opportunities:

INDIA'S OVL, PARTNERS TO INVEST US$5 BLN IN IRAN GAS FIELD

NEW DELHI - ONGC Videsh Ltd and its partners Indian Oil Corp (IOC) (BSE: 530965) and Oil India Ltd (OIL) have proposed an investment of about US$5 billion in bringing to production a massive gas field they discovered in offshore Iran, in the next 3-4 years. Iran in September 2008 approved the commerciality of the discovery in the Farsi block. The discovery, which was subsequently named Farzad gas field, ...

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