August 2009 Vol. 236 No. 8

Projects

Iran Planning $70 Billion Spending Spree

Iran said it may invest $70 billion in two major offshore natural gas fields in the 2010-2015 period.

Iran would invest $40 billion to complete remaining projects in the South Pars field during the fifth five-year economic plan, which runs until 2015. Iran is in talks with Asian banks on a $1.40 billion bond to finance the development of South Pars. Another $25 billion would be invested in the North Pars field.