SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

ONGC eyes 20-25% stake in Iranian gas field

27 Nov 2009 Evaluate

The state-owned oil exploration major ONGC is eyeing 20-25 per cent stake in a giant Iranian gas field even as it awaits Tehran's nod for its plan to develop a gas field it had discovered two years ago. ONGC Videsh, the overseas arm of Oil and Natural Gas Corp, will discuss participation in the development of Phase-12 of the gigantic South Pars gas field in the Persian Gulf when top officials of Iranian national oil firm visit the country next week.

The Hinduja Group too is interested in the $7.5- billion South Pars Phase-12 (SP-12) project but OVL's pursuit is independent of it. OVL has not approached Petropars, the unit of National Iranian Oil Co (NIOC) which holds the rights for the field, for picking a stake through a joint venture with the Hindujas.

Both OVL and the Hindujas had in the past signed separate MoUs with Petropars for SP-12 and are independently talking to NIOC, they said adding if the Hindujas are able to convince Iran to give them a stake in the field, the state-run firm will welcome them in the consortium formed by Petropars. In its talk with NIOC next week, OVL would also take up the issue of granting development rights for the offshore Farsi gas fields for which it, along with IndianOil and Oil India, has submitted a $5 billion development plan.crackcrack

ONGC Share Price

286.55 -1.80 (-0.62%)
10-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
ONGC 286.55
Oil India 470.95
Jindal Drilling&Inds 538.75
Deep Industries 456.45
Asian Energy Service 300.65
View more..

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×