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Turkey to Invest in South Pars Gas Field

Oil&Gas Materials 6 August 2008 16:00 (UTC +04:00)

Azerbaijan, Baku, 6 August / Trend / Iran and Turkey achieved an agreement on production, export and prices of the natural gas of Iran's South Pars field, Iranian Farsnews quoted Reuters. 

The head of the Department on Economic Affairs of the Iranian Embassy in Ankara Ahmed Nouri said the details of the contract between the two countries in the field of gas have been coordinated and the contract will be signed during the visit of Mahmoud Ahmadinejad to Turkey.

A part of the South Pars gas will be consumed in Turkey and a part will be exported to Europe.

According to an outline agreement between Turkey and Iran, Turkey will invest $3bln in the South Pars gas field.

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