Iran awards gas fields to two local groups: state TV - AFP

TEHRAN — Iran on Tuesday signed contracts worth 21 billion dollars with two local groups to develop six South Pars gas phases, state television's website said, dropping an earlier reference to the elite Revolutionary Guards as one of three winners.

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Iran previously awarded phases 13 and 14 to Anglo-Dutch Shell and Spain's Repsol YPF, but the two energy majors held off a final decision on investments as new UN sanctions loomed against Tehran over its nuclear drive. Iranian media quoting oil officials reported over the past few weeks that the Guards could bag some of the South Pars contracts given its growing influence in Iran's economy under the presidency of Mahmoud Ahmadinejad.

Full Story: Iran awards gas fields to two local groups: state TV - AFP