Iran will offer bonds worth a total of IRR238.9tn ($2.3bn) to the public to fund the phase II development of the South Pars gas field.
Iran and Qatar are jointly developing the South Pars gas field, according to Mehr News Agency.
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The Iranian share of the field is about 14 trillion cubic metres of gas, or about 8% of world reserves, and over 18 billion barrels of liquefied natural gas resources.
The Iranian part is divided into 24 phases.
Pars Oil and Gas Company’s managing director Ali Vakili told Mehr that the bonds will be offered by Bank Saderat of Iran and Bank Melli Iran.
In August 2010 IRR1tn ($475m) of bonds were issued for the first phase of South Pars.
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By GlobalData
