Iran and Malaysia have struck a 1.2-billion-euro deal to build natural gas liquids (NGL) facilities on Iran's southern Kharg Island.
A consortium of Malaysian companies signed the agreement under finance mode with the National Iranian Offshore Oil Company, the owner of the project, in the Malaysian capital, Kuala Lumpur.
The project would gather 600 million cubic feet of the associated gas from Abouzar, Bahregansar, Doroud, Forouzan, Kharg and Soroush fields per day. As the US is exerting pressures on European firms to cut back business with Iran, Asian companies are keen on investing in the resource-rich Middle Eastern country, sitting on the world's largest gas reserves after Russia.
A consortium of Malaysian companies signed the agreement under finance mode with the National Iranian Offshore Oil Company, the owner of the project, in the Malaysian capital, Kuala Lumpur.
The project would gather 600 million cubic feet of the associated gas from Abouzar, Bahregansar, Doroud, Forouzan, Kharg and Soroush fields per day. As the US is exerting pressures on European firms to cut back business with Iran, Asian companies are keen on investing in the resource-rich Middle Eastern country, sitting on the world's largest gas reserves after Russia.
The two Muslim nations signed a 16-billion-dollar deal in late December to develop Iranian gas fields and build liquefied natural gas plants there. MK/RE
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