Investment in South Pars Gas Field to Touch $30bn

Total investment in Iran’s South Pars gas field will likely reach $30 billion in the current Iranian calendar year than ends March 2014.

Managing director of the National Iranian Oil Company (NIOC), Ahmad Qalebani said adequate resources have been allocated to South Pars this year so that development plans of the phases will go ahead on schedule, Shana News reported.

Qalebani stressed that by the end of this Iranian calendar year, the country’s gas production will rise by 100 mcm/d, most of it after startup of South Pars phases 12, 15 and 16.