Tehran Times reported that Iran's Pars Oil and Gas Company will issue some IRR 52 trillion in rial and foreign currency bonds to finance the South Pars gas field development plans in the current calendar year which ends on March 20th 2013.

Mr Touraj Jahanara financial director of POGC said that IRR 40 trillion plus USD 1 billion is projected to e issued. Last year IRR 15 trillion in bonds was issued.

Mr Ahmad Qalebani MD of National Iranian Oil Company said that some USD 22 billion will be channeled into the South Pars gas field development projects in the current year.

Mr Qalebani has already said that the country's daily oil and gas outputs should amount to five million barrels and 1.47 billion cubic meters by 2015.

Mr Rostam Qasemi oil minister of Iran said in August 2011 that the Iranian government should consider plans for the development of joint oilfields. The government should increase the budgets for the development of joint oilfields. The oil industry's infrastructure needs more than IRR 500 trillion of investment to achieve objectives of the 20 Year Outlook Plan.

Source - Tehran Times

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