Iran to Offer South Pars Oil Project at London Conference



Reuters

DUBAI, Aug 27 (Reuters) - Iran will offer a project to extract oil from its South Pars gas field, the world's largest, along with three other gas fields at a conference in London later this year, an Iranian official was cited as saying by Iran's Press TV on Thursday.

Development of the South Pars oil layer will be offered to foreign investors at the conference where Iran is due to unveil its new contract model, Ali Akbar Shabanpour, managing director of Pars Oil and Gas Company (POGC) said, according to Press TV.

The project is estimated to hold 7 billion barrels of oil in reserves. Iran will also offer North Pars, Golshan and Ferdowsi gas fields for development at the same conference, Shabanpour said.

(Reporting by Bozorgmehr Sharafedin and Rania El Gamal; editing by David Clarke)



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