Mobile UPI  |   About UPI  |   UPI en Español  |   UPI Arabic  |   UPIU  |   My Account
Search:
Go

Turkey eyes Iran's South Pars gas field

|
|
 
  
Published: Oct. 27, 2009 at 11:34 AM
Advertisement

TEHRAN, Oct. 27 (UPI) -- The Turkish government aims to invest as much as $4 billion to develop the South Pars gas field in the Persian Gulf, a deputy oil minister said.

Ibrahim Radafzoun, the deputy oil minister of Iran, told the Fars News Agency that Turkey was interested in developments at the largest gas field in the world.

"The investment (by Turkey) will be made in phases 6 and 7 of South Pars gas field," he said.

South Pars holds an estimated 450 trillion cubic feet of natural gas reserves, which represents about 47 percent of the total reserves in Iran.

Radafzoun's comments came during a visit to Iran by Turkish Prime Minister Recep Tayyip Erdogan. The Turkish premier arrived in Tehran on Monday to discuss diplomatic and commercial interests.

Iran is keen to boast of the interest of foreign companies in its energy sector amid punitive economic sanctions for its controversial nuclear program.

Turkey, for its part, is pushing to position itself as a regional energy hub, hosting the planned South Stream and Nabucco natural gas pipelines for Europe as well as regional oil arteries.

© 2009 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.

Order reprints
  
Join the conversation
Most Popular Collections
The making of the Oscars The Chicago Auto Show The Tibetan Moniam Festival in China
Additional Energy Resources Stories
1 of 21
President Obama Signs Smuggling Prevention Act at White House
View Caption
fark
It's starting to look as if the roles are now reversed - that Obama is Lucy with the football, and...
You're a female air traveler and there's no female TSA agent to screen you? No problem, there's...
Despite their efforts to convince you otherwise, many "foodies" can't, in a blind taste test, tell...
Photoshop this urban underground dweller
Kim Jong Un Dead. I repeat - Un Dead
Nothing is more romantic on Valentine's Day than taking your lover on a tour of New York's sewers...