12 March 2011
Iran will issue €3 billion worth of bonds domestically to develop its giant South Pars Gas field in the south of the country, an official said on Friday.
"From Saturday, for five days we will issue bonds inside the country for the first time in order to develop the gas field," Deputy Oil Minister Ahmad Qal'ebani said, Shana reported.
The bonds will be offered in one, five, ten, fifty, and one hundred thousand euro notes, he said. Since March 21, some $6 billion worth of forex and rials participation bonds have been issued to finance South Pars gas field's phases.
Qal'ebani said the gas field absorbed more than $10.7 million during the current Iranian year (ends March 2o).
He went on to say that the government will allocate 13 to 15 billion dollars for the development of different phases of the South Pars Gas Field.
The South Pars gas field is jointly owned by Iran and Qatar. The Iranian share of the field has reserves of about 14 trillion cubic meters of gas, which accounts for about eight percent of the total world reserves. Iran has the world's second largest natural gas reserves after Russia
Iran will issue €3 billion worth of bonds domestically to develop its giant South Pars Gas field in the south of the country, an official said on Friday.
"From Saturday, for five days we will issue bonds inside the country for the first time in order to develop the gas field," Deputy Oil Minister Ahmad Qal'ebani said, Shana reported.
The bonds will be offered in one, five, ten, fifty, and one hundred thousand euro notes, he said. Since March 21, some $6 billion worth of forex and rials participation bonds have been issued to finance South Pars gas field's phases.
Qal'ebani said the gas field absorbed more than $10.7 million during the current Iranian year (ends March 2o).
He went on to say that the government will allocate 13 to 15 billion dollars for the development of different phases of the South Pars Gas Field.
The South Pars gas field is jointly owned by Iran and Qatar. The Iranian share of the field has reserves of about 14 trillion cubic meters of gas, which accounts for about eight percent of the total world reserves. Iran has the world's second largest natural gas reserves after Russia
© Iran Daily 2011
