Oil and Natural Gas Corp (ONGC) plans to partner with Hinduja Group to develop oil and gas fields in Iran, the company CMD R S Sharma said on Wednesday.

ONGC Videsh Ltd (OVL) and Ashok Leyland Project Services plan to take a stake in Phase-12 of the giant South Pars gas field in the Persian Gulf and also develop the Azadegan oil field. Sharma said his company and the Hindujas would meet Iranian officials here on Thursday to discuss plans.

Hinduja Group has signed a MoU with Naftiran Intertrade Co, while OVL has an MoA with Petropars for development of Phase-12. Sharma said OVL’s board cleared project specific collaboration with Hinduja last month.