No. 03



New Funding Source Should Expedite Work On Phase One Of South Pars Development

A major obstacle in the implementation of the first phase of the South Pars gasfielddevelopment program is likely to be overcome following a government decision to allocatesome $940mn in hard currency and 400bn in Iranian riyals to a local company responsiblefor the project. Phase one of South Pars involves the production of 1bn cubic feet daily(cfd) of natural gas and 40,000 b/d...