An Iranian oil official said Tuesday that Malaysia has made a proposal to invest 20 billion U.S. dollars in two Iranian gas and oil fields in the Persian Gulf, the English language satellite Press TV reported.
"Iran is discussing with Malaysia's SKS Ventures concerning its presence and investment in Iran's Golshan and Ferdowsi fields," Mohammad Souri, the head of Pars Special Economic Energy Zone, was quoted as saying.
Countries such as Malaysia are interested to invest in Iran's oil and gas fields in the Persian Gulf as they find the investment lucrative for the next 50 years, said Souri.
In 2007, the National Iranian Oil Company signed a memorandum of understanding (MoU) based on the buy-back plan with Malaysia's SKS Ventures on the development of Iran's two offshore gas and oilfields, the report said.
According to another contract signed in 2008 between Iran and Malaysia, Iran was to build a refinery-petrochemical complex in Malaysia, which will manufacture gas-oil, gasoline, jet fuel, liquified natural gas (LNG) and petrochemical raw materials.
The refinery will be constructed in the Malaysian state of Terengganu over a period of six years and will reportedly cost more than 6 billion U.S. dollars./.