ONGC has discovered oil in southern Iran: Officials

Dubai, Jan 22: A consortium led by Oil and Natural Gas Corporation (ONGC) has discovered oil in southern Iran with promising good results, a top Iranian oil official has said.

The drilling at offshore Farsi Block, where three wells have been drilled so far, indicates oil in the area, Director for Exploration at the National Iranian Oil Company (NIOC) Hossein Roshandel said.

The oil found in the block is of heavy type, he said adding that drilling of the fourth well is underway, and the outcome of the operations will be known next month.

Petroenergy Information Network said NIOC awarded exploration rights over Farsi Block to the Indian consortium in 2002.

The consortium, which also includes IndianOil and Oil India, would continue the work on Farsi Block, which is as large as 6,700 kilometres, where depth of water is at 90 metres.

UNI