Azerbaijan, Baku, Feb. 24/ Trend F.Milad/
Iran needs up to $40 billion to complete development plans which are underway in the South Pars gas field within two years, ISNA news agency quoted the managing director of Pars Oil and Gas Company (POGC) as saying.
Mousa Souri added that some $168 billion worth of projects are being implemented in different phases of the gas field.
Previously, Souri told the ILNA news agency that Iran has sold 44 trillion rials (some $3.6 billion) plus one billion euros in bonds to finance the gas field's development plans.
Offering up to 35 per cent profit on the bonds to attract the public participation is economically justified, Mr Souri had said in January.
Five billion dollars in bonds will be issued in the current Iranian calendar year (to end March 19, 2012) to speed up the implementation of South Pars gas field projects, the National Iranian Oil Company's head, Ahmad Qalebani, has said.
Oil Minister Rostam Qasemi said in August 2011 that the Iranian government should consider plans for the development of joint oilfields.
The oil industry's infrastructure needs more than 500 trillion rials (about $41 billion) of investment to achieve the objectives of the country's 20-year Economic Outlook Plan, which ends in 2025, Mr Qasemi was quoted as saying.
Iran's national budget for the next calendar year will see it issuing €12.5 billion in bonds for financing domestic oil 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 metres of gas, or about eight per cent of the total world reserves and more than 18 billion barrels of liquefied natural gas resources.
