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NIOC to allot funds to South Pars development plan
August 11, 2008: National Iranian Oil Company (NIOC) approved an outlay of about $5 billion to the South Pars development plan in the current Iranian year ending March 2009.
The budget plan for the project is to be secured through a three per cent portion of oil revenues and the plan will come into force within 30 days. NIOC is in the process of finalizing the contractors for the phases27, 28, 22-24 and 19-21 phases and hopes to introduce the eligible contractors in two to three months time.
Source: Steelguru.com