TEHRAN (IRNA) – Oil Minister Bijan Namdar Zanganeh said phases 14, 15 and 16 of South Pars are near completion and the 17th phase has started production.
On oil price base in next year's budget bill, he said the government has proposed $72 for each barrel of oil, but Majlis is authorized to take the decision in this respect.

As to the presence of foreign companies in Iran, the minister added that oil firms are waiting removal of sanctions to launch their cooperation with the country.

Commenting on South Pars projects, Namdar Zanganeh also said that they enjoy a good situation and are experiencing a forward trend.

Of course, completion of different phases of South Pars needs further support of Majlis and government, he said.