India's Oil and Natural Gas Corp (ONGC) hopes to partner the Hinduja Group to develop Iran's South Pars Phase 12, world's largest offshore gas field, and the Azadegan field, its chairman and managing director, R.S. Sharma, said on Wednesday.
Sharma said the firm would meet Iranian officials on Thursday in New Delhi to discuss the plans. "We have an MoU with Hinduja. Under that platform we are going to discuss the issues," Sharma told reporters.
In December, a senior ONGC source told Reuters the firm's overseas arm--ONGC Videsh Ltd--was to join forces with the Hinduja Group in a bid to help develop Iranian oil and gas assets.
Iran is drawing interest from Indian and Chinese firms that are keen to tap the world's second-largest reserves of oil and gas and are less susceptible than many other companies to Western pressure over Tehran's nuclear program.
Iran is the world's fourth-largest crude oil exporter and Azadegan, located in the southwestern province of Khuzestan, was its biggest oil find in 30 years when it was announced in 1999. Its reserves have been estimated at 33 billion barrels.
India has often reiterated its bilateral energy links with Iran given the geographical proximity of the energy rich country. If finalized, this would be ONGC Videsh's second entry into the hydrocarbon-rich nation, where it operates the Farsi block.

Labor Minister Mohammad Jahromi said inauguration of Entrepreneurship University is an effective step towards development of entrepreneurship which is an engine for the economy.
Speaking at a ceremony inaugurating the university which is to train entrepreneurs late Tuesday, the minister stated that the higher education institution has been established as per a memorandum of understanding between labor and science ministries.
Jahromi criticized the country's academic curricula since they do not train graduates for the job market. "University students lack required skills for the job market after graduating and the entrepreneurship university would help resolve this problem."
He recalled that 44 centers have been established in universities to receive and support new business and entrepreneurship ideas.
Change in university syllabus is a must to train graduates who can be recruited in domestic and regional market.
Turning to unemployment, Jahromi cited figures released by Central Bank of Iran based on which unemployment rate in 175 cities declined 0.7 percent in the month to October 22 compared to 11.2 percent for a month earlier.
Unemployment reached 9.9 percent this summer, after being in the double digit for a decade.
Asked by Iran Daily about the relocation of capital out of Tehran, Jahromi recalled the comments made earlier in December and said, "The policy-setting High Housing Council is pursuing the issue."
He stressed that moving the seat of government out of the 12-million-strong megapolis is practical and experiences of other countries have proved this.
Jahromi, however, observed that a new city should be built and considered as new capital of Iran.
The minister earlier stated that the only solution to Tehran's employment and housing woes is to move the capital away from the sprawling megalopolis.
The proposal also received the backing of Interior Minister Mostafa Pour-Mohammadi.

The IATA Operational Safety Audit Program is an accepted evaluation system designed to assess the operational management and control systems of an airline.

International Civil Aviation Organization (ICAO) and International Air Transport Associations (IATA) are pursuing globalization by asking member airlines to observe the necessary requirements, Iran Air (HOMA) chief, Saeed Hesami said.
He referred to acquisition of IOSA permits as one of the main requirements to this end, ISNA wrote.
The IATA Operational Safety Audit (IOSA) Program is an internationally recognized and accepted evaluation system designed to assess the operational management and control systems of an airline. All IATA members will need to have successfully undergone the IOSA audit until 2007 to acquire or maintain IATA membership.
"We have made intensive efforts to draw up 23 articles of the related guideline in English and move towards obtaining the permit," he noted.
"At present we can claim that all measures being taken in Iran Air comply with international aviation law."
Hesami said that though the country is under sanction, Iran Air has received 95 percent of IOSA's approval, adding this is one the most remarkable achievements in the airline's record.
He pointed out that efforts are underway to resolve the existing problems and obtain the IOSA permit.
Acquiring the permit will be a major development in the process of approaching the target of global aviation systems.
Hesami stated that Iran Air has 52 aircraft at present, adding the airline has purchased 11 airplanes in the past two years.
Earlier Hesami defied threats of UN sanctions, saying domestic capabilities will be enough to minimize their impacts on the aviation fleet.
"Though we will inevitably incur higher maintenance costs in running our system efficiently in case of more sanctions, domestic capabilities will help reduce the adverse consequences on the aviation industry to a minimum," he said.
Iran has been under unilateral US sanctions for more than two decades with an embargo on the purchase of aircraft or parts from Western manufacturers.

The plan would help boost confidence in the rial and facilitate commerce.

As inflation edges toward 20 percent this year, the move to lop off three zeros from the national currency, rial, has gained momentum.
Economists have recently proposed that the government knock the zeros off in a bid to boost confidence in the currency that has been losing value due to high inflation as well as to simplify finances.
However, experts have warned the Central Bank of Iran (CBI) to conduct thorough studies prior to launching the plan since it can turn out to be a 'double-edge sword'.
Talking to the Persian weekly 'Atieh', Chairman of the Majlis Economy Commission Mohammad Shahi-Arablou contended that implementation of the plan is necessary in current economic condition.
"If we can drop zeros from the banknotes, it can boost the purchasing power of the people and cut costs for maintenance and issuance of banknotes."
Monetary experts maintain that given the decline in the value of the rial, high transportation costs,and issuing new paper bills as well as accounting headaches, lopping offs the zeros will help strengthen the economy and facilitate transactions.
Former CBI deputy governor for rial and currency issuance Jalal Jalilian recalled that the issue was raised in the top bank several years ago and had been placed on CBI agenda several times.
In recent years, the former official said, the issue has come to fore and put on the agenda of Evaluation Office of the Central Bank in an attempt to simplify transactions.
A comprehensive report has been prepared, he said, explaining it suggests that advantages of the plan outweigh its disadvantages and its adverse impacts can be cubed through precautionary measures.
Mehdi Taqavi, another expert, maintains that time is ripe for implementing the plan since accounting becomes a headache when the value of a currency declines.
However, some experts opine that if the plan is undertaken without comprehensive assessment, its implementation can add to inflation and exert extra financial burden on state treasury.
Masoud Nili, an economist, noted that zeros should be lopped off once the liquidity problem was overcome otherwise the plan would only facilitate cash transactions.
An academician Mohammad Tabibian observed that the move would not resolve inflation concerns, suggesting economic planners to avoid such 'pompous pretense'.
He said that the zeros should be dropped when its numbers are high as was the case in Turkey.
Turkey recovered from major economic crises in recent years after it lopped six zeros off its national currency to create the New Turkish Lira and facilitate cash transactions in 2005.

Given that Qatar has extracted about five trillion cubic feet of gas more than Iran from South Pars in the Persian Gulf until the end of 2006, it is of high importance for Iran to draw foreign companies to supply technology and capital for exploration in the joint gas field.
Expressing this, Morteza Behrouzifar, a member of the Institute for International Energy Studies, said that Indonesia and Malaysia were considered as world's top liquified natural gas (LNG) producers until 2005.
However, Qatar took the first position in the world in terms of gas output by producing 32 million tons of LNG in 2006, he said, adding the tiny Persian Gulf Arab country plans to increase production to over 70 million tons per year within five years, ISNA wrote.
Noting that other Iranian gas fields such as North Pars, Golshan and Ferdows are not shared with other nations, he urged that all efforts should be taken to develop South Pars gas field.
Otherwise, any delay in extracting gas from the joint gas field would be a huge loss for Iran and to the advantage of Qatar, he cautioned.
Behrouzifar expressed apprehension that the development of South Pars gas field was not the top priority.
He pointed out that based on programs, out of the total 75 million tons of domestic LNG output per year, about 35-40 million tons pertain to South Pars gas field.
The official underlined that the country should use the best gas extraction methods to obtain the highest volume of gas from South Pars field in the shortest time.
Qatar has set its gas price at $11 per every million Btu for export to Japan, he said. This is while, the export price fixed at one million Btu of gas to be transferred through Iran-Pakistan-India peace pipeline is only $5, he compared.

Universities and research centers play a key role in using the capacities of new technologies, head of Majlis Telecommunication Committee said.
According to a fax to Iran Daily by Teyf Group, Ramezanali Sadeqzadeh noted that since Iran is lagging behind the modern technology, investment in outdated technologies not only prevents the acquiring of new technologies, but also hinders the use of such know-how.
Emphasizing that new telecommunication technologies provides an opportunity for expanding domestic abilities, he observed that investment in new telecommunication technologies should be made in technically and economically viable fields.
Sadeqzadeh further stated that the 'International Conference on Investment Opportunities in Iran's Telecom Sector' will be held in Tehran on January 16.
The international confab, organized by the group, will be attended by state managers, policy makers, local and foreign investors as well as key players in Iran's telecommunication sector.
Teyf will provide a forum for identifying various investment capacities, opportunities and challenges in Iran's telecommunication market.
The seminar aims to introduce new opportunities in Iran's telecom sector in an effort to help attract domestic and foreign investments.
It also plans to familiarize investors with Iran's telecommunication market and the available opportunities.
In addition, it will study the capabilities of and challenges facing investors.
The one-day gathering is to be held in Khajeh Nasir Hall of Islamic Republic of Iran Broadcasting's International Conference Center in Tehran.

More than five million Iranians are employed in the handmade carpet industry, IRIB quoted the head of National Carpet Center, Morteza Faraji, as saying Tuesday.
He noted that no other industry in the country is as job intensive as the carpet industry. On the other hand, the world associates Iran with Persian carpet since it symbolizes Persian civilization and culture.
Handwoven carpet industry can help the government tackle the high unemployment in rural areas, he suggested. Rural people, particularly when they are not involved in farming, can weave carpets to supplement their income and fill their leisure time, he added.
The official noted that while handwoven carpets rank third among export commodities after oil and petrochemical products, it stands first among non-oil exports.
Iran's handwoven carpets are mainly exported to Germany, Italy, Switzerland, France, Austria and Britain in Europe; plus, the Untied Arab Emirates (UAE) and Japan in Asia, and Canada in North America. European customers, led by Germany, buy around 70 percent of Iran's carpets.
Handwoven carpet is also an environment friendly product as it is made from natural raw materials, Faraji stated. It has been proved to bring peace of mind in homes, he added.
Every 3.8 square meters of handwoven carpet can create employment for one person, as opposed to 1,750 square meters for machine-made products. In other words, the jobs-creation rate of handwoven carpet is 422 times greater than the figure for machine-made carpets.
Faraji concluded that the only way to help the industry survive is to provide more incentives.

Chairman of Iran Chamber of Commerce, Industry and Mine has suggested the formation of Iran-Vietnam chamber of commerce to facilitate bilateral trade.
In a meeting with Vietnam's Minister of Agriculture and Rural Development Cao Duc Phat on Wednesday, Mohammad Nahavandian stated that Tehran-Hanoi economic ties are below potentials and such chamber can help benefiting from untapped opportunities.
Iranian and Vietnamese tradesmen have no access to sufficient information on investment opportunities in the two Asian countries, he stated, calling for holding a joint seminar on the issue to help remove obstacles, IRIB said.
Banking, shipping and transport services have to be strengthened to boost bilateral trade, Nahavandian concluded.
Officials from Iran and Vietnam signed a deal to boost economic and trade ties at their fifth economic commission meeting in Tehran on Monday.
Commerce Minister Masoud Mir Kazemi and Vietnam's Cao Duc Phat underlined the significance of long-term trade and economic ties by making full use of their potentials.
Based on the agreement, the two ministers decided to ink a joint investment agreement in the near future.
Meanwhile, Iran announced its readiness to participate in joint oil and gas exploration and production projects.
VietnamÕs economy is expected to have grown by 8.48 percent this year, its fastest pace in just over a decade, after a boost given by World Trade Organisation (WTO) membership.
The Southeast Asian country joined the WTO in January. The forecast growth rate in gross domestic product for 2007 would be the highest since 9.34 percent in 1996.