Azerbaijan, Baku, 2 July / Trend corr. T.Jafarov / The Iranian Government has allocated $16bln to the oil wells development program, Akbar Turkan, Iranian Deputy Petroleum Minister, said. This was released by the Iranian news IRINN channel.
According to the Deputy Minister, $16bln makes up 9% of total oil incomes in Iran. Apart from the budget funds, the Majlis of Islamic Council spends 6% to develop Iranian oil wells from total oil incomes annually and 3% - to develop 24th phase of the gas project 'South Pars'.
'South Pars' was opened in 1990. Exploration of 'South Pars' goes on in 25 phases. NIOC is the operator. Gasprom, ENI and Total are participants to develop the project. Gas is transported from South Pars to Assaluye via gas pipelines. The is some 13trln or 15trln cu m of gas reserves in South Pars.
Project participants:
Phase 1: Petropars ( Iran).
Phase 2 and 3: Total ( France) - 40%, Petronas ( Malaysia) - 30%, Gasprom ( Russia - 30%.
Phase 4 and 5:Petropars ( Iran), ENI-Agip.
Phase 6.7 and 8: Petropars ( Iran), Statoil ( Norway).
Phase 9 and 10: GS ( South Korea), OIEC ( Iran), IOEC ( Iran).
Phase 11: Total ( France), Petropars ( Iran).
Phase 12 :Petropars ( Iran).
Phase 13 and 14: Shell, Repsol.
Phase 15 and 16: Hatamolanbiyya ( Iran).
Phase 17 and 18: OIEC ( Iran), IOEC ( Iran).
Turkan said that the Iranian Petroleum Industry Development Fund was established and a preliminary agreement on the issue has been reached with the head of the Central Bank of the country.
"At present, the negotiations underway to establish Fund with the Petroleum Ministry and Central Bank," Turkan said.