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Iran Invests $16 bln in South Pars Gas Field

Source: www.gulfoilandgas.com 5/19/2013, Location: Asia

An Iranian oil company official has stated that 16 billion dollars is due to be invested for the development of South Pars gas field within next ten months, as far as projections are concerned.

Pars Oil and Gas Company Managing Director, Mohammad Reza Zahiri, said on Saturday that the huge part of the fund will be provided by domestic sources.

CEO of National Iranian Oil Company, Ahmad Ghalebani, has also expressed that "According to the plans, the country's gas production capacity will rise by 100 million cubic meters per day by the end of the year, a large part of which will be produced in South Pars phases such as 12, 15, and 16."

The projection was made for the current Iranian calendar year, which ends on March 20, 2014.

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