The model for development of Farzad B field will be finalized this, Iran Daily has quoted the managing director of Pars Oil and Gas Company (POGC) as saying.

India's ONGC will hold consultations on the economic development model before finalizing the deal, Mohammad Meshkinfam said, according to the report, which cited Shana.

Farzad B field can produce three billion cu ft per day of natural gas, Iranian Oil Minister Bijan Namdar Zanganeh was quoted as saying in April.