Iran to offer $1b in bonds for PG oil projects

Oil&Gas Materials 20 October 2011 13:43 (UTC +04:00)

Azerbaijan, Baku, Oct.20 / Trend F.Milad/

Iran will offer $1 billion worth of bonds to the public for the funding of its oil projects in the Persian Gulf, an official with the Iranian Offshore Oil Company (IOOC) said here on Thursday.

Iran also plans to absorb some other $8 million through buyback contracts, Pananews quoted Hossein Jafari as saying.

According to Jafari, over $1 billion was invested in IOOC's projects in the Persian Gulf in the previous Iranian calendar year (ended March 19).

Some $60 million of the mentioned amount had been allocated out of the Forex Fund and some other $36 million was absorbed through refinancing.