Iran to issue $407 million South Pars bonds by year end
Azerbaijan, Baku, Mar. 13/ Trend F.Milad/
Five trillion rials (some $407 million) will be issued in bonds by the end of the current Iranian calendar year (March 19) to finance the South Pars gas field projects, the financial director of Pars Oil and Gas Company said.
The current year's budget allows the oil ministry to issue 100 trillion rials (some $8.2 billion) in bonds to finance oil and gas projects, Touraj Jahanara told Shana news agency.
Since the beginning of the current calendar year, 15 trillion rials (some $1.2 billion) plus €1.7 billion worth of bonds has been issued, he noted.
Iran will also issue $15 billion in sukuk (Islamic Sharia-based) bonds in the current year to be invested in the domestic oil industry.
The South Pars gas field is shared by Iran and Qatar. The Iranian share which is divided into 29 phases has about 14 trillion cubic meters of gas, or about eight per cent of the total world reserves and more than 18 billion barrels of liquefied natural gas resources.