Gulf Oil and Gas accountACCOUNT

SPís Bonds to Be Issued Soon

Source: Shana 10/15/2011, Location: Asia

Share |
The first tranche of a 50 thousand billion rial denominated bonds for development of the South Pars gas field projects will be issued by the agent banks as of 23rd October, according to remakes made by managing director of Pars Oil and Gas Company (POGC) Mousa Souri.

Speaking to Shana, Mousa Souri said that under an agreement with Iranís Central Bank (CBI), for the first time in the Iranian calendar year of 1390 (began 21st March 2011) Iranian agent banks would start issuance of bonds for development of South Pars as the biggest gas field in the world.

ĎThe South Pars gas fieldís share of the total credits for the first half of the current Iranian calendar year was 9.6 billion dollars of which 7 billion dollars have been absorbed and the remaining part (2.6 billion dollars) would be paid step by step over the year, the official said.

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

The South Pars field is a gas condensate field located in the Persian Gulf. It is the worldís 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.

Iran holds the worldís second-largest reserves of natural gas and the third-largest reserves of oil.

Financials and Investment News in Iran >>

United States >>  6/21/2017 - Cook Inlet Lease Sale 244 -- the first lease sale held in Alaskaís federal waters since 2008 -- today garnered $3,034,815 in high bids for 14 tracts c...
Canada >>  6/20/2017 - Cenovus Energy Inc. put forward a five-year plan that the company expects will generate 14% annualized free funds flow growth through 2021 at a West T...

Ireland >>  6/20/2017 - Providence Resources P.l.c., the Irish based Oil and Gas Exploration Company, provides a commercial update on the Exclusive Option (the ďOptionĒ) ente...
Austria >>  6/15/2017 - Demand for OPEC crude in 2017 was revised up by 0.1 mb/d from the previous month. This upward adjustment was mainly due to the downward revision in no...

United Arab Emirates >>  6/15/2017 - Gulf Energy Maritime (GEM), has signed an AED275 million ($75 million) with Dubai Islamic Bank (DIB). The agreement marks the first time GEM has raise...
United Kingdom >>  6/15/2017 - Today shareholders of Wood Group and Amec Foster Wheeler overwhelmingly approved Wood Groupís recommended all-share offer for Amec Foster Wheeler. The...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Iran Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 |

More News

 

Oil & Gas Companies in Iran >>


Related Links

AZ BD BN CN GE HK ID IN IR JP KR KZ MM MN MY PG PH PK RU SG TH TJ TM TW UA UZ VN
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.