29 January 2015 - 10:49
  • News Code: 234012
Offering 50 Trillion Rial Bonds Approved

TEHRAN Jan 29(Shana)--Parliament’s Integrated Commission has permitted Petroleum Ministry to issue bonds worth 50 trillion rials for investment in development of shared oil and gas fields.

Speaking to Shana, member of Integrated Commission Esmaeel Jalili said Petroleum Minister Bijan Namdar Zanganeh attended Wednesday meeting of the commission in order to clarify oil industry needs for next year specially accelerating development of shared oil and gas fields and the supergiant South Pars gas field as a priority.

Integrated Commission has decided to approve a legislation that will allow Petroleum Ministry to offer equivalent of 50 trillion IR rials of bonds for stepping up development of shared oil and gas fields, the lawmaker said.

He further noted that another suggestion on allocating as much as 5 billion dollars of National Development Fund (NDF)'s resources to development of shared oil fields failed to be approved even though another proposal which focused on allocation of 4 billion dollars of NDF’s funds will be discussed during another session of the integrated commission.
News Code 234012

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