Iran to attract $50 billion for South Pars project

Iranian Oil Minister Rostam Qasemi says the Islamic Republic plans to attract 50 billion dollars in investments for the development of the South Pars gas field, Press TV reports.

Qasemi said the development of the remaining phases of the joint South Pars project would be completed after procuring the investment. 

The Iranian oil minister added that phases 15 and 16 of the South Pars gas field would become operational by the end of the current Iranian year (started in the end of March).