Shana reported that the first phase of offering rial bonds worth 5.000 billion rials (500 million dollars) started on Saturday across the country by some branches of the Bank Saderat Iran (BSI) and it is supposed have been sold completely at the end of the day due to the widespread welcome by the customers.
The bonds with three years maturity period carry 16 percent interest.
Offering 3 billion euro bonds and 3 thousand billion rial bonds has been included in the current Iranian year (started on 21 March) budget and Central Bank of Iran (CBI) has authorized the Pars Oil and Gas Company (POGC) to issue the bonds.
Managing director of the Pars Oil and Gas Company (POGC) said on 16 August that 3 billion Euros has been invested in the South Pars gas field phases in the first five months of the current Iranian calendar year (Started on 21 March) noting bonds worth 10.000 billion Iranian rials will be issued in next 30 days.
Responding to the reporters questions on the latest decisions on issuance of participation bonds, Ali Vakili, said we have predicted different sources to finance South Pars gas field phases and part of these funds would be provided through Iranian rial and the others through other currencies.
Vakili said that rial bonds would be issued in six batches this year and the first one will be offered 21 August.
The South Pars field is a gas condensate field located in the Persian Gulf. It is the world’s largest gas field and is shared by Iran and Qatar. According to the International Energy Agency, the field holds an estimated 50.97 trillion cubic meters (1800 trillion cubic feet) of in-situ gas and some 50 billion barrels of condensates.