TEHRAN -- The chairman of the Majlis Energy Commission said that the Islamic Republic of Iran's parliament supports a policy of joint exploitation of gas and oil gas fields.

Hossein Afarideh said on Tuesday that the Majlis would prepare the ground for exploitation of joint fields by providing a legal base for prompt implementation of the projects.

Referring to the many job opportunities which could be created by implementation of gas and oil projects, he said that the country is currently grappling with unemployment and that the Majlis would do its best in order to solve this problem through different approaches, including facilitating the establishment of gas and oil projects.

On the implementation of the second and third phases of the South Pars Gas Field, Afarideh announced that exploration of the South Pars Gas Field, located in the Asaloyeh district of Bushehr Province, is a turning point in the history of the oil and gas industry in Iran and that there are good prospects for further development.

The chairman of the Majlis energy commission added that phases two and three of the South Pars Gas Field are being implemented through buyback contracts with the French oil company Totalfinaelf. He said that it is has been estimated that the project will earn about $7 million annually.