USD 80 Billion to Be Invested in South Pars, Iran

80 billion dollars will be invested in development and completion of South Pars gas field phases, deputy minister of petroleum for planning and supervision on hydrocarbon resources said.

Speaking during a visit to Assaluyeh, onshore installation of South Pars gas field, Mohsen Khojasteh-Mehr told Shana that the largest economic and industrial infrastructures of the county are located in Pars Special Economic Energy Zone (PSEEZ) therefore development of the region should go ahead integrated and balanced.

He added South Pars gas field holds 8 percent of total gas reserves of the world and half of the country’s proven gas reserves as well as is the host of the most important industrial complexes of the country and the most important part of oil industry’s value chain.

“Strategic importance of South Pars gas field push us toward drafting and finalizing of PSEEZ’s strategic development document as one of the priorities of petroleum ministry”, the official siad.

He continued that Institute for International Energy Studies (IIES) is drafting PSEEZ’s strategic development document in cooperation with other specialized units of petroleum ministry and academic centers.

After drafting and finalizing the document, development of the zone will be continued based on a standard road map and world patterns and methods.

[mappress]
LNG World News Staff, November 01, 2012