‘Iran’s exploitation of South Pars gas field could equal Qatar’s by March 2014’

Iranian Oil Minister Rostam Qasemi has announced that Iran’s exploitation of the South Pars gas field will equal Qatar’s exploitation of the gas field by the end of Iranian calendar year 1392 (ends March 20, 2014) if $54 billion is invested in gas projects.
“For the development of this gas field, an investment of 650 billion rials (over $54 billion) has been put on the agenda,” Qasemi told MPs in the Majlis on Wednesday.

Iran’s oil exports have increased in the current month, and this will provide more revenue for the country, and oil exports are also projected to increase in the next few months, he added.

He went on to say that Iran has successfully skirted the sanctions meant to prevent companies from providing insurance for tankers carrying Iranian oil.

“At the current time, there is no problem in insuring tankers that carry crude oil for export,” he explained.