South Pars to Fetch $40bn a Year

TEHRAN – Managing director of Pars Special Economic Energy Zone noted that when all 28 phases of South Pars oil field come on-stream, the field will fetch the country 40 billion dollars per annum.

Seyed Abdoljalil Razavi added that there were 4 million jobless people in the country and South Pars held good promises for job creation.

The official noted that the government of Iran has taken serious steps to realize projected investments in the region.

He stated that Qatar started to exploit the South Pars gas field in 1980 and have been helped by many countries while Iran was entangled in eight-years of imposed war.

“Qatar has thus far invested 70 billion dollars in the field but Iran has started investments in the region since 1994 and has, thus far, invested 35 billion dollars in South Pars region which is 30 hectares in area,” he said.

Razavi noted that due to vastness of Iran and Qatar’s activities, Iranian engineers should double up their efforts.

Managing director of Pars Special Economic Energy Zone further stated that five gas refineries are currently operating in the region, which fetch 20 million dollars in benefit every day.

The official stated that 19 billion tomans has been allocated to various infrastructural projects in Bushehr province during the preceding Iranian calendar year (ended March 20, 2007).

News Code 105446

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