Iran to Issue South Pars Participation Bonds

Iran will issue an equivalent of some 5 billion dollars’ worth of bonds domestically to develop its giant South Pars gas field, managing director of the Pars Oil and Gas Company (POGC), Mousa Souri said.

The bonds will be issued in domestic currency, amounting to 5,000 billion Tomans.

The first phase of South Pars participation bonds worth $5 billion will be issued through the Iranian agent banks as of 23rd October, Iran’s SHANA news agency quoted Mousa Souri as saying.

Souri noted that diversification of financial resources was one of the fruitful strategies of the POGC to speed up implementation of the SP’s projects so that we could use variety of resources for implementation of the projects.

[mappress]

Source: NIGC, October 17, 2011