ASSALUYEH — The managing director of the National Iranian Oil Company (NIOC) announced here on Friday that $4.5-5 billion will be allocated to the South Pars development plan in the current Iranian year (ending March 2009).

Seyfollah Jashnsaz added the budget will be secured through a three-percent portion of oil revenues. “The budget plan will come into force in 30 days,” the official explained while visiting the South Pars phases 17 & 18 development project site, PIN reported.
-------- SP phases 27 & 28 development plan on the agenda
The NIOC managing director stated that the phases 27 and 28 of the development plan are on the agenda. “Eligible contractor for the project will be introduced in 2 or 3 months,” he added
“Phases 22-24 eligible contractor will also be introduced in 2 months and the Iranian contractor of phases 19-21 in the near future,” he added.
“Along with domestic companies we are negotiating with some European and Asian companies as well to develop the South Pars phases,” he added