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Investors pour billions
into Iran oil field
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SPECIAL TO WORLD TRIBUNE.COM
Thursday, January 26, 2006
Iran reports a $23 billion in investments in the
development of the South Pars natural gas field.
An Iranian Oil Ministry official, Hossein Shahabeddin, said a range of
Iranian and foreign investors have poured money into South Pars, regarded as
the largest gas field in the world and shared by Iran and Qatar. Shahabeddin
said oil production from South Pars would soon begin in a project that would
provide jobs for 150,000 people in the Bushehr province.
A leading investor in South Pars has been Italy's Agip, Middle East Newsline reported. Officials said
Agip has invested $809 million, far more than its commitments.
Officials said South Pars would complete 12 stages of development. They
said that at that point the field would produce 300 million cubic meters of
gas per day.
Copyright © 2006 East West
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