Iran will issue national bonds to finance the development of South Pars gas field this year. The managing director of Pars Oil and Gas Company Ali Vakili told reporters today that company will issue the national participation bonds worth 3.8 billion dollars in six stages adding that the first part of the offer will be on August 21. The Iranian Oil Ministry's website, SHANA, quoted Vakili as saying that National Iranian Oil Company (NIOC) has guaranteed the payment of interest and return of initial investment in due time. Vakili added that Iran has invested more than 30 billion dollars for the development of South Pars project since 1997, and will invest additional 40 billion dollars in the coming years.Iran has the world's second largest natural gas reserves after Russia.