Iran and Malaysia to expand oil cooperation

Aug 01, 2002 02:00 AM

Deputy Managing Director of the NIOC Hojjatollah Ghanimifard said that in line with the proposed Iran-Malaysia oil cooperation, Petronas the Malaysian Oil Company will submit its proposals to take part in the up-stream oil industry by the end of the summer.
On the history of oil cooperation between the two nations, he said that the two countries have had over a decade of cooperation in oil industry.

Signing of a buy-back agreement to develop Persian Gulf oilfield, Sirri A, with cooperation of the Total of France and Petronas, these collaboration entered a new chapter, the oil official noted. Two years after that, with regard to development of phases 2 and 3 of the South Pars Gas Field another buy-back agreement was inked in which Total and Petronas had 30 % and 70 % of share in the project, respectively.
He said the recent trip by the President Mohammad Khatami to Malaysia further cemented cooperation in various oil fields. Discussion were made on production of natural gas between Iran, Total and Petronas, he remarked.

Ghanimifard said that Malaysia has been a buyer of Iranian crude in he past adding that Tehran and Kuala Lumpur also trade in petrochemicals.
"Iran imports unleaded gasoline from Malaysia and the latter purchases methanol from Iran", he said.

Source: The Tehran Times
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