Iran eyes contract

BEIRUT: Iran has agreed a $3 billion contract with a consortium of Indian companies to develop the Farzad B gas field in the Persian Gulf, according to the Mehr news agency. Saeed Hafezi, the director of the Falat Ghare oil company, said the lifting of sanctions means the consortium can resume development, according to Mehr. The managing director of ONGC Videsh, the Indian company heading the partnership, said they had not yet been notified about the development.