IRANIAN GAS: $7 BLN INVESTMENTS
The Managing Director of Bank Mellat, Iran's biggest private bank, has announced that the institution will invest $7 billion in the development of South Pars gas field, Iran's largest resource holding some 30 percent of the country's total proved gas reserves.
Iran's Shana news agency quoted Mohammad Reza Saroukhani as saying that some $5 billion will be invested in phases 20, 21, 22 and 23, while $2 billion will be put in phase 13 of South Pars.
It's expected that some 125 million cubic meters of gas per day (mcm/d) will be produced from the mentioned phases in total.
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