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Tehran, YJC. Deputy Oil Minister says Iran needs to allocate $1 billion a month to the South Pars oil field and that each day the expansion operations halted will cost $100 million.
The Deputy Oil Minister Roknoddin Javadi speaking about the 11th administrations plans for the South Pars oil and gas fields said that $25 billion is needed to complete the projects underway by two years, adding "In other words, $1 billion must be spent from monetary and credit sources per month in order to accomplish South Pars development plans.”
Also the ECO of the National Oil Company, Javadi pointed out that as the acting agent in the development of the South Pars, the Oil and Gas Company needs to plan and decide on $35 million per day so that the monetary facilities are gone into the projects on time.
He further stated "If each phase of the South Pars makes $2.5 billion a year, the total of 12 un-expanded phases must make $30 billion per year.”
He added that divided by the number of days ahead, each day the operations delayed would mean that the country has to spend $35 million and add $100 million to the country’s revenue.
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