Iran Accelerates Development of its Oil and Natural Gas field in the Persian Gulf
Iranian President Mahmoud Ahmadinejad has approved a $5 billion credit line for Iran’s Oil Ministry, which sets aside $4.3 billion for the development of projects in Iran’s South Pars oil and natural gas field, which is under joint development with Qatar.
Iran is developing 13 phases of the massive natural gas field, as by 2013 Qatar is projecting massive exports from its development. Last year Iran signed contracts with domestic companies worth $21 billion for the development of the first 8 phases of South Pars.
According to international energy experts, Iran has 137.6 billion barrels of proven oil reserves and 29.61 trillion
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Iran is developing 13 phases of the massive natural gas field, as by 2013 Qatar is projecting massive exports from its development. Last year Iran signed contracts with domestic companies worth $21 billion for the development of the first 8 phases of South Pars.
According to international energy experts, Iran has 137.6 billion barrels of proven oil reserves and 29.61 trillion
Read more...
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