Iran in oil talks with India and China

Dubai, Sep 10: Iran Oil Minister Gholam-Hossein Nozari said his country is engaged in talks with Indian and Chinese oil and gas companies with a view to developing oil and gas fields in the Caspian Sea. Talks with India's Oil and Natural Gas Corp (ONGC) and the Chinese National Petroleum Company (CNPC) are aimed at developing oil and gas fields in the Caspian Sea, Mr Nozari said, according to Iranian news agencies.

''No projects have been finalised yet,'' Mr Nozari said in Vienna on the sidelines of OPEC's 149th regular meeting. Iran has the world's second largest gas reserves and is one of the OPEC's top oil exporters but smarting under sanctions. Meanwhile, the country is finding it difficult to find technology and funds from Western countries to tap its reserves.

UNI