In an exclusive interview with Shana, Ali Vakili, POGC managing director said that three ways have been considered to finance the ongoing and new projects of the South Pars gas field, noting allocating part of oil revenue, offering bonds and to form financial syndicates are among these approaches.
Vakili remarked that under the first approach, the parliament has allocated 40 percent of NIOC budget from the oil revenue to South Pars oil field development that is estimated to be 4 billion dollars based on current oil prices.
Noting that Central Bank of Iran (CBI) has authorized issuance of 3 billion euro bonds and 30.000 billion rial bonds, Valili added: Bank Saderat Iran (BSI) has started offering rial bonds since last August.
The official stressed that following widespread welcome of the rial bonds, the second and third round of selling the bonds have been started.
According to vakili, financing the projects through specialized investment funds including energy funds is another way by the central bank to provide money, noting to this end negotiations are underway with a consortia consisting of domestic banks.
Elsewhere in his remarks, POGC managing director reported of a fourth approach to finance South Pars projects adding some Iranian and foreign companies have expressed their readiness to invest in the projects.
He said POGC welcomed the companies having the capabilities to implement the projects.
Regarding the importance of South Pars gas field development for the government, parliament and the Central Bank, POGC managing director predicted 13 billion dollars to be absorbed to develop new South Pars projects.