Explanation:

Recently, Iran gave the Farzad-B Gas Field to a domestic gas producer.

• The Farzad B gas field is located in the Farsi block on the border between Iran and Saudi Arabia and at a distance of about 20km from Farsi Island.
• Farzad-B Gas Field is located in Persian Gulf (Iran). 
• The contract for exploration of the field was signed in 2002 by Indian consortium comprising ONGC Videsh, Indian Oil Corporation and Oil India.
• The contract expired in 2009 after declaration of commerciality of the field, based on the gas discovery.
• In January 2020, India was informed that in the immediate future, Iran would develop the field on its own and would like to involve India appropriately at a later stage.

Hence option 4th is correct.