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Iran to assign $2.3bn foreign investment to South Pars

Oil&Gas Materials 17 September 2011 17:30 (UTC +04:00)

Azerbaijan, Baku, Sept. 17 /Trend A.Gurbanova/

Iran will assign $2.3 billion foreign investment to develop Phases of South Pars, Pananews reported quoting Managing Director of Pars Oil and Gas Company Mussa Souri as saying.

"The Oil Ministry will provide $2.3 billion to South Pars development project, of which $2.1 billion will be provided to contractor in two weeks time," he said.

Iran 's Oil Ministry will issue $5 billion bond to boost construction of gas phases in South Pars in current solar year (started on March 20, 2011)

The ministry aims to attract $52 billion investment for South Pars development by 2015, Iran's Oil Minister Rostam Ghasemi insisted development of joint oil and gas fields are among his priorities.

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