Officials said Iran's South Pars natural gas field, one of the largest
in the world, was expected to produce up to $130 billion in revenues per
year.
South Pars, developed in 24 stages, has sought investment and
technology from foreign contractors, Middle East Newsline reported.
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"At the moment the production value of 10 phases of South Pars is $18
billion a year," said Mussa Souri, managing director of Iran's state-owned
Pars
Special Economic Energy Zone Organization. "The latest estimates show
that with the completion of all the development phases of South Pars, the
country will earn between $96 billion and $130 billion annually."
Iran, in the face of United Nations and U.S. sanctions, has sought to
attract major foreign energy companies to develop South Pars. In 2010,
China's National Petroleum Corp., which replaced France's Total, was
awarded a $4.7 billion contract to develop part of South Pars. The Iranian
Oil Ministry has also been discussing awarding contracts to firms linked to
the Islamic Revolutionary Guard Corps.
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