"The Iranian Oil Ministry proposed to the government to issue and distribute privatization stakes worth $12.245 billion. It is planned to distribute these stakes amongst population within three years," Director of the Iranian National Oil Company Seyfulla Janshnsaz said on May 26, the IRNA reported.
The minister said the population will participate at the 15-16 and 17-18 phases of development of the South Pars field by using these privatization stakes.
The Oil Ministry plans to distribute privatization stakes worth $4.245 billion in the first year, $4.1 billion - in the second year and $3.9 billion in the third year, he said.
Iranians in the world can partake in the project, Jashnsaz said. They can acquire stakes by using national or international currency.
"After implementing this project, income received from products of oil and gas industry will belong to Iranians living in the world's different regions," Jashnsaz said.