Azerbaijan, Baku, Feb. 29/ Trend M. Moezzi
After its success in selling 20 per cent interest participation bonds, the National Iranian Oil Company (NIOC) will make a second offer starting Saturday, March 3, Pana news reports.
The tax-exempt interest on the South Pars gas and oil field's bonds will be paid every three months.
The first offering designed to get more funding for developing the Persian Gulf South Pars field, netted the NIOC more than $938 million. Iran is trying to speed up the development of the joint gas and oil field.
Iran and Qatar share the 9700 square kilometre South Pars gas and oil field. Qatar, however, is far ahead of Iran in exploiting the field's resources. It has intensified developing South Pars while Iran suffers international sanctions and technical and financial obstacles.