From the Field
Malaysian entity to study Iran fields
TEHRAN, February 8, 2017 – Malaysia’s Bukhary International Ventures (BIV) will conduct fields studies in Iran under an MoU signed with National Iranian Oil Company (NIOC) on Wednesday.
The studies will cover the Golshan and Ferdowsi gasfields.
The two fields are located offshore in the Gulf at a distance of 30 kilometres from one another. They were highlighted by the NIOC in late 2016 as potential investment opportunities.
In December 2007, Pars Oil and Gas Company, a subsidiary of NIOC, signed a USD 6-billion buy-back contract with Petrofield, a subsidiary of Malaysia’s SKS Ventures, under which the company was to build a 20-million-tpy LNG facility in Deir, using gas from the fields.
While the project has been interrupted by sanctions and its status is unclear, the plant may be revived as post-sanctions investment flows into the country.
Resource courtesy of Xodus