22 June 2012Iran's Pars Oil and Gas Co has said the country's oil minister Rostam Qasemi has ordered an investment of more than $26bn in development projects in the South Pars gas field for the current Iranian calendar year which started on March 20, 2012, Mehr news has reported. 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 8% of the total world reserves, and more than 18 billion barrels of liquefied natural gas resources. Last year, Iran spent around $20bn for developing the field. |
