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Economic News in Previous Week

Tehran Times - Mar 15, 2001

SOUTH PARS GAS WINNERS TO BE REVEALED

The winners for Phases 9-12 of giant South Pars field will be announced in the coming weeks. A total of 20 international oil companies are in the running to develop phases 9-12 of offshore South Pars field, estimated to hold 12 trillion cubic feet of gas or about seven percent of world reserves, according to Reuters. An Iranian official had said earlier the winners for phases 9-12 , reckoned to involve total investment of about $4 billion. Contracts worth more than $7 billion already have been sealed for the first eight of South Pars 25 phases.