Referring to providing funds for South Pars development plan phases 15 and 16, Mr. Khajeali said bonds worth one billion Euros to develop South Pars gas field phases 15, 16, 17 and 18 have been sold and it is forecast 50 percent of the revenue to be allocated to phases 15 and 16.

Sepanir's managing director, the company affiliated to Khatam al – Anbia Construction Headquarters, also said that in order to sooner exploitation from the South Pars gas field, under the legislations 40 percent of the ministry of petroleum's budget is to be earmarked to South Pars gas field development. He further said that based on the decision a big portion of the budget would be allocated to the ongoing plans such as phases 15 and 16.

By completion, the two phases will produce 2 billion cubic feet (57,000,000 m3) per day of natural gas, 75 MMcf/d of ethane, 80,000 barrels per day of condensate, 3000 tons of LPG per day plus 400 tons of sulfur per day.

The South Pars field is a natural gas condensate field located in the Persian Gulf. It is the world's largest gas field, shared between Iran and Qatar.