TEHRAN, April. 28 (ISNA)-Indian sources say Iran has accepted India's Oil and Natural Gas Corporation (ONGC) to take stakes in Azadegan and South Pars projects.

Times of India wrote an agreement was reached for ONGC cooperation in Azadegan project in 2007 but that failed to be materialized perhaps because of China's pressures.

According to the agreement India will have 45 percent stake of Azadegan oilfield and 60 percent of South Pars phase 12.

Iran's oil ministry was reported a few days ago to be considering replacing French Total and Royal Dutch Shell with ONGC if they failed to reach an agreement with Iran.

... Payvand News - 04/28/08 ...