Wednesday, December 9, 2009
Malaysia’s SKS Ventures has made a proposal to invest $20 billion in two Iranian gas and oil fields in the Persian Gulf, an Iranian oil official says.
“Iran is discussing with Malaysia’s SKS concerning its presence and investment in Iran’s Golshan and Ferdowsi fields,” the head of Pars Special Economic Energy Zone Mohammad Souri told SHANA News Agency on Tuesday.
He added that countries such as Malaysia and China are interested to invest in Iranian oil and gas fields in the Persian Gulf region as a lucrative investment with long term potential.
The National Iranian Oil Company signed in 2007 a $20bn memorandum of understanding (MoU) based on the buyback plan with Malaysia’s SKS Ventures on the development of the two offshore gas and oil fields.
Iran’s former deputy minister for international affairs Hossein Noqrekar-Shirazi revealed earlier in August that the collaboration between Iran and Malaysia would include the construction of refineries in Malaysia and other Asian countries.
Iran and Malaysia also have plans to set up a 300,000 bpd refinery in Indonesia and build further refineries in Vietnam and Syria.
The Golshan gas field, 65 kilometers from the Iranian coast with an estimated in-place reserve of 50 trillion cubic feet, will have a daily production of 70 million cubic meters when in commission.
The Ferdowsi gas field stands 85 km from the shore with an estimated 10 trillion cubic feet of in-place reserve, will have a daily production of 25 million cubic meters when in commission.
According to the MoU signed between the two sides, the Malaysian company will develop the gas fields in four phases with an annual Liquefied Natural Gas production of 20 million metric tons.
(Source: Press TV)
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