Azerbaijan, Baku, May 16/ Trend F.Milad/
Iran will cancel a contract which was signed with Malaysia's SKS five years ago for the development of the Golshan and Ferdowsi gas fields and will hold a tender to transfer the job to domestic companies, Pars Oil and Gas Company's managing director said.
Mousa Souri added that development of the fields will start by the end of the next calendar year (March 2013), according to the ISNA News Agency.
Iran signed a $16 billion gas deal with Malaysia's SKS Ventures in December 2007 for the development of the Golshan and Ferdowsi gas fields. The SKS had been obliged to completely implement the plans within 66 months.
Golshan gas field is located southwest of Iran. It holds over 1.4 trillion cubic meters of in-situ gas reserve and is projected to produce 700 million cubic meters of gas per day.
Iran has the second largest proven gas reserves in the world after Russia. Iraq has said that it needs 10 to 15 million cubic meters of Iranian gas each day.
Iran's natural gas production capacity stands at around 554 million cubic meters per day, the National Iranian Gas Company's spokesman said on February 5.
Majid Boujarzadeh told the Pana News Agency that taking the imported gas from Turkmenistan into account, some 600 million cubic meters of natural gas is supplied across the country each day.
Iran exported over 7.6 billion cubic meters of natural gas last year which ended on March 19, up 10.5 per cent compared with the same period last year.