Iran to Invest $80 bn in South Pars Gas Field

Iran is expected to invest $80 billion for development and completion of South Pars gas field phases, deputy minister of petroleum for planning and supervision on hydrocarbon resources said.

Speaking during a visit to Assaluyeh, onshore installation of South Pars gas field, Mohsen Khojasteh-Mehr told Shana news agency that the largest economic and industrial infrastructures of the county are located in Pars Special Economic Energy Zone (PSEEZ) therefore development of the region should go ahead integrated and balanced.

 ‘Strategic importance of South Pars gas field push us toward drafting and finalizing of PSEEZ’s strategic development document as one of the priorities of petroleum ministry’, the official said.

South Pars gas field holds 8 per cent of total gas reserves of the world and half of the country’s proven gas reserves.