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Iran acquires $16bn Malaysia gas deal
- Iran: Thursday, December 27 - 2007 at 10:40
Iran signed a $16bn gas contract with Malaysia, intensifying its efforts to shift its flow of oil and gas deals towards eastern countries and bypass US led pressure to thwart investment by western companies, reported FT. The contract, signed between Iran's Pars Oil and Gas Company (POGC) and Malaysia's SKS Ventures, owned by Malaysian billionaire Syed Mokhtar Al-Bukary, includes the $6bn development of the Golshan and Ferdows gasfields over five and a half years.The second part of the contract is worth $10bn and is earmarked for the production of liquefied natural gas (LNG) from the two offshore fields in the southern province of Bushehr.
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Amena Bakr, Senior ReporterThursday, December 27 - 2007 at 10:40 UAE local time (GMT+4)
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