FROM SCRATCH NEWSWIRE

SCAVENGING THE INTERNET

MALAYSIA INVESTS $14B IN IRAN ENERGY

Posted by Gilmour Poincaree on December 3, 2008

Thu, Dec 04, 2008

PUBLISHED BY ‘THE IRAN NEWS DAILY’

TEHRAN — Malaysia is investing up to 14 billion dollars in development of Golshan and Ferdosi fields as well as a liquefied Iranian Oil Minister Gholam Hussein Nozari arriving on March 05, 2008 for a meeting of the Organization of Petroleum Exporting Countries (OPEC) at its Vienna headquarters. OPEC was set to leave oil output unchanged despite fresh calls by US President George W. Bush for an increase in supply to help bring down soaring energy prices.natural gas project, Minister of Oil Gholam-Hussein Nozari has said.

He added that meanwhile since 60-70% of the project’s value is finalized based on the price of goods; following the finalization of tender bids the final value of contract is specified.

“Iran and Malaysia have formed strategic relations and the two countries’ economic ties have been appropriate, to date. Meanwhile, with the conclusion of three cooperation deals and two memoranda of understanding, these economic ties will be reinforced and boosted more than ever.”

Meanwhile, in a meeting with the Iranian minister of oil, the former Malaysian premier Mahathir Mohammad, for his part, said that the two countries have reached agreements over development of a refinery in Malaysia with the capacity of 250,000 barrels; export of 120,000 barrels of CNG to Malaysia; development of a natural gas field in Iran; joint construction of refineries in Syria and Indonesia; and a number of other projects.

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE IRAN NEWS DAILY’

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