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South Pars revenues hit USD 40 billion last fiscal year - Iranian official
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Friday, 16 Nov 2012

Trend News Agency cited Mr Mousa Souri MD of Pars Oil and Gas Company as saying that Iran earned some USD 40 billion from selling 85 billion cubic meters of natural gas and 117 million barrels of condensates extracted from the South Pars gas field in the past Iranian calendar year, which ended in March 2012.

Mr Souri said that each phase of the gas field will boost gross domestic product by 1%. Some USD 68 billion worth of projects are underway by the company in the gas field.

Mr Rostam Qasemi oil minister of Iran has officially ordered an investment of more than USD 26 billion in development projects in the South Pars gas field for the current year. Last year, around USD 20 billion was allocated for the purpose.

Mr Mohsen Khojasteh Mehr deputy oil minister of Iran said in October 2011 that development of the South Pars is a priority and funds will be channeled there for as long as necessary. In 2009, Iran said development of the remaining phases of South Pars required USD 40 billion investment over 10 years.

Source - Trend News Agency


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