EghtesadOnline: India’s ONGC Videsh has turned its focus on buying stakes in overseas oil and gas production assets to meet output targets after a delay by Iran in awarding development rights for a gas field, its managing director said on Thursday.

EghtesadOnline: ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp, on Monday said it has not heard from Iran on the $11 billion "best offer" it gave for developing the Farzad-B gas field.

EghtesadOnline: Oil Minister Bijan Namdar Zanganeh said on Saturday negotiations are underway with an Indian consortium led by ONGC Videsh Ltd, the foreign investment arm of India’s Oil and Natural Gas Corp. to expand Farzad B Gas Field in the Persian Gulf.

EghtesadOnline: ONGC Videsh Ltd has opted to invest in developing a giant gas field in the Persian Gulf, for which a revised cost is being worked out, an unnamed official said.