Officials said the regime of Iranian President Mahmoud Ahmadinejad would
raise $7 billion to finance development of South Pars gas field, Middle East Newsline reported.
They said
the bonds were meant to compensate for Western withdrawal from Iran's energy
sector.
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"Soon, we will issue international bonds worth five billion euro for the
development of this field that Iran shares with Qatar," Pars Oil and Gas Co.
managing director Ali Vakili said. "The bonds will be issued in 500 million
euro in installments."
Vakili said United Nations sanctions would not block the bond issue for
South Pars development. He said that by March 2011 Iran would invest $13
billion
to develop the field.
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