Iran will issue 3 billion euros worth of bonds domestically to develop its giant South Pars Gas field in the south of the country, an official said on Friday, according to the Oil Ministry's website SHANA.
"From Saturday, for five days we will issue bonds inside the country for the first time in order to develop the gas field," Deputy Oil Minister Ahmad Qalebani said.
Iran has the world's second-largest gas reserves after Russia but international sanctions on the country over its disputed nuclear plans and other factors have slowed the development of exports.
Analysts say Iran needs more foreign investment and technology to help expand capacity but U.N. and U.S. sanctions are deterring energy companies, especially Western ones.
The state oil firm has estimated annual investment needs at $25-30 billion in Iran's oil and gas sector. But major energy firms such as Royal Dutch Shell and Total have either delayed or scrapped large projects in Iran.
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