Energy

"Formally lost bid to develop Iran’s Farzad-B gas field, first discovered by ONGC in 2008, to the Iranian company Petropars Group. The National Iranian Oil Company (NIOC) had informed ONGC in October 2020 that it intended to award the contract to an Iranian company. Negotiations with NIOC on the development of Farzad-B from 2011 to 2012 and from 2015 to 2019 ultimately failed due to sanctions on Iran." (The Economic Times, "India Loses ONGC Videsh-Discovered Farzad-B Gas Field in Iran," 5/18/2021). 

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On March 18, 2014, ONGC Videsh was added to the Florida State Board of Administration List of Prohibited Investments (Scrutinized Companies) due to its involvement in Iran. As of March 9, 2021, ONGC Videsh remains on the SBA list of prohibited investments. 

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As of December 2020, Rhode Island continues to list ONGC Videsh as having active investment in Iran's energy sector of at least greater than $50 million. 

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"Will not participate in a project to develop Iran’s Farzad-B gas field after repeatedly delaying negotiations because of concerns over U.S. sanctions. Had previously submitted proposals to Iran to develop the gas field in 2010 and 2015." (Andalou Agency, "India Loses Giant Gas Field in Iran," 10/21/2020). 

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ONGC Videsh is listed on the August 5, 2020 California Department of General Services, "Entities Prohibited from Contracting with Public Entities in California per the Iranian Contracting Act, 2010" list.

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In 2020, the U.S. state of Mississippi listed ONGC Videsh on its state lists of Companies Doing Business with the Iranian Petroleum/Natural Gas, Nuclear and Military Sectors, rendering it ineligible for investment and/or state contracting.

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On June 1, 2020, the Ohio Police & Fire Pension Fund (“OP&F”) listed ONGC Videsh on its scrutinized companies Iran/Sudan list.

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As of May 28, 2020, the Florida State Board of Administration (“SBA”) continues to list ONGC Videsh on its list of “Scrutinized companies with Activities in the Iran Petroleum Energy Sector.” 

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On January 13, 2020, the South Dakota Investment Council submitted a report to the Executive Board of the Legislative Research Council regarding compliance with SDCL 4-5-48 to 4-5-60, Iran Divestiture. Included in this report is an Iran Scrutinized Companies list of all prohibited investments for which the internal managers and direct external managers are instructed not to purchase any company on the list. ONGC Videsh is included on this list.

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As of December 31, 2019, the Alaska Retirement Management Board lists ONGC Videsh as a company doing material business with Iran.

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"Iran had agreed to buy the gas produced from ONGC NSE -0.13 % Videsh Ltd-discovered Farzad-B field in the Persian Gulf, but talks got stalled after the US reimposed sanctions against Tehran.

ONGC Videsh Ltd (OVL), the overseas investment arm of state-owned Oil and Natural Gas Corp (ONGC), had in 2008 made a significant natural gas discovery in the Farsi offshore exploration block in the Persian Gulf, the company said in its latest annual report.

The discovery was named Farzad-B." (Economic Times, "Iran agreed to buy OVL gas but US sanctions stalled talks," 9/5/2019). 

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ONGC Videsh is listed on the June 4, 2019 and July 12, 2019 Florida State Board of Administration list of prohibited investments (Scrutinized companies) for Iran related business.

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ONGC Videsh is listed on the June 2019 Alaska Retirement Management Board, Companies Doing Material Business with Iran list.

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ONGC Videsh is listed on the March 2019 Alaska Retirement Management Board, Companies Doing Material Business with Iran list.

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On March 13, 2019, the Mississippi Department of Finance & Administration identified ONGC Videsh as a company “engaged in investment activities in Iran, providing funds, goods or services valued at $20,000,000 or more in the energy sector of Iran.”  

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ONGC Videsh is listed on the January 2019 Entities prohibited from Contracting with Public Entities in California list.

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"ONGC Videsh, the overseas arm of government-owned ONGC, has signed a cooperation agreement with Iran’s IDRO Oil to jointly bid for a $900 million development plan of Susangerd oilfield in southwest Iran, Islamic Republic News Agency (IRNA) reported on Tuesday." (March 7, 2018)

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"ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), has signed a pact with Iran’s IDRO Oil to jointly bid for a USD 1 billion contract for development of Susangerd oilfield in southern Iran." (March 2018). Subsidiary of ONGC. 

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In 2017 the U.S. states of Alaska, Florida, Rhode Island, South Carolina, Tennessee, Texas listed ONGCon its list of companies doing material business with Iran rendering ONGC ineligible for investment and/or state contracting.

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In 2018 the U.S. state of Ohio listed ONGC as an Iran restricted company rendering ONGC ineligible for investment and/or state contracting. 

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In 2014, 2015, 2016 and 2017 ONGC Videsh was listed on the Texas Pension Review Board List of Scrutinized Companies doing business in Iran pursuant to Chapter 807.054, Government Code.  

"Norway's Offshore Resource Group signed a memorandum of understanding with Khazar Exploration and Production Company to the study the development of Sardar-e Jangal oil and gas field off Gilan Province in the Caspian Sea as well as the offshore exploratory blocks of 24, 26 and 29." (November 1, 2017)

In 2020, the U.S. state of Mississippi listed Midciti on its state lists of Companies Doing Business with the Iranian Petroleum/Natural Gas, Nuclear and Military Sectors, rendering it ineligible for investment and/or state contracting.

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South Dakota Investment Council removed Midciti from its Iran Scrutinized Companies list effective April 18, 2019. 

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In 2018 the U.S. state of Iowa listed Midciti as an Iran restricted company rendering Midciti ineligible for investment and/or state contracting.

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In 2017 the U.S. state of Mississippi listed Midciti on its Iran restricted company rendering Midciti ineligible for investment and/or state contracting.

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In 2013 and 2014 Midciti was listed on the Texas Pension Review Board List of Scrutinized Companies doing business in Iran pursuant to Chapter 807.054, Government Code.  

Subsidiary of Warbug Pincus.

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"in its February 16, 2017 filing, Laredo Petroleum, Inc. (a U.S. company) stated clearly that neither it nor its affiliates knowingly engaged in any activities associated with Iran. However, “because the SEC defines the term ‘affiliate’ broadly,” Laredo disclosed information provided by Warburg Pincus, Laredo’s founding member and whose affiliates own 36.2% of Laredo’s common stock. According to the disclosure, the affiliates of Warburg Pincus beneficially own more than ten percent of the equity interests of another company, Santander Asset Management Investment Holdings Ltd. (SAMIH). Because SAMIH may be deemed to be under common control with Laredo due to the SEC’s broad interpretation of affiliate, Laredo disclosed that a SAMIH affiliate—Santander U.K. plc—held savings accounts for two SDNs during the year, even as it noted that SAMIH’s activity does not relate to any activity conducted by Laredo or Laredo’s affiliates."

The Danish technology company Kamstrup has signed a contract of two new pilot projects with Iranian company Iran Ensheab Co. The contract was signed in connection to a visit in Iran with a delegation from the Danish water sector. (November 14, 2017).

"InterOil Corporation, an independent oil and gas firm based in Papua New Guinea, has signed a memorandum of understanding with Pars Special Economic Energy Zone and Petropars Ltd. to develop a major oil production zone in southern Iran. The agreement is aimed at determining the feasibility of establishing Pars 3, an expansive area of 16,000-hectares in Bushehr Province, which will incorporate all infrastructures for offshore and onshore crude exploration, production and export, Shana reported." (June 11, 2016)

Iran and Germany signed a memorandum of understanding (MoU) on Feb. 17 to cooperate in the field of nuclear safety, the state-run IRINN TV reported. The deal was signed between Germany’s GRS Company and Iran's Nuclear Safety System Center in Tehran during a ceremony attended by German ambassador to Tehran, Michael Klor-Berchtold. Under the deal, the German side will help Iran’s Nuclear Safety System Center to improve its capabilities.(February 2018)

"Singapore-based Berlanga Group has signed a memorandum of understanding and a non-disclosure agreement with the National Iranian Oil Company on Wednesday to study Iran’s Dalpari Oilfield in the western Ilam Province." (November 18, 2017)
 

"Azerenergy and Iranian Power, Generation, Transmission and Distribution Management Company (TAVANIR) signed a contract on sale and purchase of electric energy. The contract was signed by Azerenergy President Etibar Pirverdiyev and Tavanir's managing director Arash Kordi. According to the contract, 180 megawatt of energy will be imported from Azerenergy for Mughan and Astara regions from June. " (April 12, 2018).