Azerbaijan, Baku, Sep.7/ Trend F.Milad/
The National Iranian Oil Company will start selling 15 trillion rials (some $1.2 billion) in bonds in the near future to finance oil and gas projects, the NIOC head said.
Five trillion rials (some $400 million) will be used for financing offshore oil projects and 10 trillion rials (some $800 million) will finance the South Pars gas field development projects, Ahmad Qalehbani added, the Shana news agency reported.
Some $30 billion was invested last year in Iranian oil industry despite global sanctions, an official with the Oil Ministry said on August 24.
Mohsen Khojasteh-Mehr told the Fars News Agency that the oil industry faced sanctions last year, which led to a reduction in foreign investments. But, we managed to absorb some $30 billion to oil projects, he noted.
Oil Minister Rostam Qasemi said in April that at least $30 billion will be invested in the domestic oil industry this year.
He added that a major portion of the sum will be allocated to the South Pars gas field projects.
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.
Qasemi also said that the global economic sanctions against the Islamic Republic would not hinder the country's oil industry development.
The oil ministry is committed to accelerating the implementation of its development plans, financed through the financial system and through government bonds, he said.
Iran sits on the world's second largest natural gas reserves after Russia.
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