Source: Mehr News Agency, Tehran
Some $30 billion have been invested in the giant South Pars
gas fields' development plan so far, an official with the Pars Oil and Gas
Company said in Tehran on Tuesday.
IRNA quoted Hossein Nosratzadeh as saying that "during the previous year €1
billion and over 30,000 billion rials (some $3 billion) worth of bonds have been
offered to the public."
"It is estimated that the amount will reach over 40 billion dollars during the
next five years," he added.
"Investment in South Pars gas field on average has increased by 25 percent per
year," he concluded.
Deputy Oil Minister Ahmad Qalehbani said in November that a further $3 billion
credit line will soon be set up for the projects in South Pars.
Pars Oil and Gas Company's Managing Director Ali Vakili said in August that
phases 15 and 16 are 52 percent complete, while phases 17 and 18 are 50 percent
Once the phases come on stream 100 million cubic meters of gas would be added to
the nation's sweetened gas production capacity.
SP gas field's current production capacity stands at 75 million cubic meters of
gas per year.
Iran has the second largest gas reserves in the world after Russia.
The offshore South Pars field contains about half of the estimated 28 trillion
cubic meters of the country's gas reserves.
Qatar holds the southern section of the field, which is referred to as the North
Dome. South Pars along with the North Dome combined are the world's largest
known gas reservoir.
Qatar has developed its side of the field to become the world's largest exporter
of liquefied natural gas (LNG).
Iran inks $6.5b worth of gas deals
Iran signed $6.5 billion worth of gas contracts during
the previous week, deputy oil minister said in Tehran on Tuesday.
Javad Owji said that "we have signed $2.5 billion worth of contracts for
construction of two gas pipelines in order to export Iranian gas to Europe and
"A $4 billion contract was also signed with the Bank Saderat of Iran for
implementation of Bidboland gas refinery and Parsian refinery's ethane
extraction plant," he explained.
According to the official, Bank Saderat of Iran and National Iranian Gas Company
respectively own 80 percent and 20 percent stakes in the two mentioned projects.
Owji went on to note that Iran still offers the world's cheapest gas.
Iran possesses the world's second largest gas reserves, which makeup almost 16
percent of the world's total.
... Payvand News - 12/21/10 ... --