08-08-08 The managing director of the National Iranian Oil Company (NIOC) announced that $ 4.5-5 bn 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 3-% portion of oil revenues.
"The budget plan will come into force in 30 days," the official explained while visiting the South Pars phases 17 and 18 development project site.

The NIOC managing director stated that the phases 27 and 28 of the development plan are on the agenda.
"The 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.