Iran to issue $4.2 bln bond to boost South Pars

Oil&Gas Materials 11 October 2011 17:49 (UTC +04:00)

Azerbaijan, Baku, Oct. 11/Trend A. Gurbanova/

Iran will issue $4.2 billion bond to boost investment in South Pars by mid-October, SHANA reported quoting financial director of Pars Oil and Gas Company Turajh Jahanara as saying.

"The new oil bonds will be issued by Iranian banks by mid October to support development of phases 22 to 24 in South Pars," he said.

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 percent of the total world reserves, and more than 18 billion barrels of liquefied natural gas resources.