Tehran, Jan 7, IRNA-Oil Minister Kazem Vaziri-Hamaneh on Sunday expressed hope a memorandum of understanding signed between Iran and Malaysia on development of gas fields would lead to further expansion of cooperation between the two friendly countries.
Vaziri-Hamaneh made the remarks in a ceremony held to sign an MoU between head of the National Iranian Oil Company (NIOC) Gholam-Hossein Nozari and the Executive head of Malaysia's SKS Ventures Tan Sri Syed Mokhtar on development of Iranian gas fields of Golshan and Ferdos.
"Investment in different sectors of oil industry will prepare the ground for further expansion of bilateral cooperation," he said.
He added that the two countries are currently implementing construction of a joint refinery in Malaysia.
Golshan gas field is located at 180km southeast of Bushehr city, southern Hormuzgan province.
The volume of gas in the field's reservoir is estimated at over 50 trillion cubic feet. It is predicted that more than 70 million cubic meters gas will be produced at the field per day after its development.
Ferdos gas field is placed at 190km southeast of Bushehr.
It is estimated that the volume of gas in Ferdos field's reservoir stands at some 10 trillion cubic feet. Over 25 million cubic meters gas is estimated to be produced at the field per day after its development.
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