05-03-03 Chairman of Petropars Company Akbar Torkan said that another $ 8 bn will be spent on expansion of South Pars project during the next Iranian year (to start March 21). He said that eight phases of South Pars gas field will be put to tender by Iran's National Oil Company in the next Iranian year.
There will be no limit for the number of domestic or foreign companies willing to participate in the tender, he said, adding that the investments will be made through buy-back agreements.

Direct investments in each phase of South Pars field will be estimated to be $ 1 bn, he said and added that agreements for expansion of the new phases will be signed by March 20, 2004.
Agreements for expansion of 10 phases of South Pars gas field, the largest off-shore gas field in the world, have already been signed.