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Iran says highest investment in buyback deals made over South Pars gas field


The highest amount of investment in Iran's buyback deals have been inked for the development of the giant South Pars gas field, IRNA reported from Tehran on Monday quoting the local press.

The Persian-language newspaper 'Mardomsalari' quoted a report by the Management and Planning Organization (MPO) as stressing that the deals that have been so far concluded stand at as much as 2.36 billion dollars.

The MPO stressed that the deals involve the development of 18 oil and gas projects in Phase 4 and Phase 5 of South Pars.

It reported that Italy's Agip and Iran's Petropars had been contracted to develop the phases in the Iranian calendar year of 1379 (March 21, 2000-2001), adding that the companies would make investment in South Pars over a period of five years with a return period of interest and capital at eight years.

The organization also reported that the second highest investment had been laid in projects to exploit natural gas in the industries and rural areas.

It stressed that NIKO Company and the National Iranian Gas Company (NIGC) are planning to invest as much as 2.144 billion dollars in a project to exploit natural gas for a period of five years. The period for the return of capital and interest will be six years.

The MPO further reported that the least amount of investment made as buyback deals have been concluded for the development of oil and gas projects of Masjed-Soleiyman field.

It added that Shear Energy Company and Naftgaran Company have been contracted to develop the projects at 88 million dollars in four years. The period for the return of capital and interest will be three years.

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