Malaysia's Petronas Signs Oilfield Study MoU

Malaysia's state oil company Petronas signed a memorandum of understanding on Wednesday to study Iran's Azadegan and Cheshmeh Khosh oilfields.

The agreement was signed in Tehran by Gholamreza Manouchehri, deputy for development and engineering affairs at the National Iranian Oil Company and Muhammad Anuar bin Taib, executive vice president and chief executive officer of upstream department at Petroliam Nasional Berhad, the Oil Ministry's official news service Shana reported.

Azadegan is the country's largest oilfield located in the southern oil-rich province of Khuzestan. The field, which is divided into the north and south sections, holds an estimated 33 billion barrels of in-place oil.

Cheshmeh Khosh oilfield is 80 kilometers east of Dehloran in Ilam Province near the border with Iraq.

Petronas joins the growing list of companies who have taken steps to expand their foothold in Iran's emerging energy sector.