The government has asked its public sector oil firms to seek legal opinion on the impact of the latest round of US sanctions on Iran on their investment in the Persian Gulf nation. This was disclosed by Oil Secretary S Sundareshan at Dalat in Vietnam. The Comprehensive Iran Sanctions, Accountability and Divestment Act of 2010 provides for sanctions against persons, including foreign firms, who invest more than 20 million dollars in Iran's energy sector in any 12-month period. Mr. Sundresan said, these are listed companies pursing opportunities in Iran and there is a need to access the potential impact of sanctions on these investments. The new US law targets companies investing, assisting or transferring technology to Iranian oil and gas companies. The US administration had in May named Oil and Natural Gas Corporation, ONGC Videsh Ltd, Oil India Ltd, Indian Oil, Hinduja Group and Petronet LNG among the 41 firms worldwide having energy ties with Iran, an act for which it may impose sanctions on them. OVL, IOC and OIL explored for oil and gas in Farsi block and have proposed investing 5.5 billion dollars in producing gas from the 21.68 Trillion cubic feet discovery they made in the offshore block located near the Saudi Arabian border. Besides, ONGC, OVL, Petronet and Hinduja Group last year signed agreements with Iran to develop one of the 28 phases of the giant South Pars gas field and convert the fuel into LNG for exports at an investment of over 10 billion dollars. Besides, state gas utility GAIL India is spearheading talks on Iran-Pakistan-India gas pipeline project. Foreign Secretary Nirupama Rao this month had stated that India was “justifiably concerned that the extra-territorial nature of certain unilateral sanctions recently imposed by individual countries, with their restrictions on investment by third countries in Iran's energy sector, can have a direct and adverse impact on Indian companies and more importantly, on our energy security and our attempts to meet the development needs of our people.