Iran to issue $5 bln oil bonds by mid October
Azerbaijan, Baku, Oct. 15 /Trend, A.Gurbanova/
Iranian banks will issue bonds in mid October in order to support financial sources of the progress of South Pars, SHANA reported quoting Managing Director of Pars Oil and Gas Company Mussa Souri as saying.
"The first phase investment in South Pars will start in mid October where banks will issue bonds worth $5 billion," he said.
He noted almost $7 billion investment attracted during first half of current solar year (started on March 20, 2011) to support South Pars.
The National Iranian Oil Company planed $16.2 billion budget for development plans in South Pars.
Iran eyes to double gas production to 1.2 billion cubic meters of gas per day.
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.
Iran has the world's second largest natural gas reserves after Russia.