The Iranian government has allocated $5bn to develop phases 20 and 21 of the giant South Pars gas field, Fars news agency has reported. 'This sum will be spent for developing phases 20 and 21 of the oil layer of South Pars and setting up the 1000-megawatt Pars Combined Cycle Power Plant,' Ali Vakili, managing director of Iran's Pars Oil and Gas Co was quoted as saying.