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Iran, Malaysia Sign Gas Development Agreement - ASHARQ AL-AWSAT English Archive
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TEHRAN (AFP) – Iran and Malaysia have signed an agreement to develop the two offshore gas fields of Ferdos and Golshan in the southeast of Iran.

The agreement was signed between the state-owned National Iranian Oil Company and Malaysia’s SKS.

According to a state radio report, the Golshan gas field holds more than 50 trillion cubic feet (1.425 trillion cubic meters) of gas in place. Golshan is located 65 kilometers (40 miles) from Iran’s shore.

The Ferdos field, located 85 kilometers from the Iranian coast, has estimated gas reserves of 10 trillion cubic feet (285 billion cubic meters).

Iran’s estimated gas reserves, the world’s second largest after Russia, amount to 971.150 trillion cubic feet (more than 26 trillion cubic meters).

The country is in urgent need of developing its gas fields both to cover domestic consumption and fulfill its ambitious gas export plans for Europe and eastern Asia.

For the second year in a row, Iran has ran short of domestic gas supply in parts of the country and temporarily cut off its gas exports to Turkey in early days of 2007 due to a severe snap of cold weather.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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