Azerbaijan, Baku, Aug. 17 / Trend /
The National Iranian Oil Company will issue 100 oil investment packages worth $80 billion to boost the oil industry, Mehr News Agency reported quoting deputy of investment in National Iranian Oil Company Ezatollah Zarei as saying.
"Around 100 investment packages will be issued to attract domestic and foreign investors," he said.
The National Iranian Oil Company guarantees to pay long-term interest rate and reduce investment risks and return capital, he added.
Despite other oil bonds, the new packages have 15 percent interest rate and participate in development of joint oil and gas fields, construction of pipeline and transfer of equipment.
The packages will be issued during the Fifth Development Plan (2010-2015).
Iran has the world's second largest gas reserves and third oil reserves, faces U.S. sanctions over its nuclear program.
The U.S. Congress approved financial sanction against Iran in 2010, which imposes strict conditions for foreign investors and financial firms and prevents them from investing more than $20 million in Iran's oil and gas industries.