Indian Petroleum and Natural Gas Minister Dharmendra Pradhan said on Tuesday that India is in talks with Iran on the development of Farzad-B gas field.
Pradhan said removal of anti-Iran sanctions has provided a suitable opportunity for Iran-India cooperation in energy domain.
A consortium of Indian companies, comprising Indian Oil and Natural Gas Corp (ONGC), is in talks with Iranian authorities to win a $3 billion contract for development of the Persian Gulf field.
The project for development of the field will result in extraction of 12.8 trillion cubic feet of gas.
Following US sanctions, the Indian companies refused to continue activities in Iran but now they hope to win the project again.
To a question regarding status of the pipeline for transfer of gas from Iran to Pakistan and India, he said India is busy in talks with many countries like Iran and Russia to meet its energy needs.