Malaysian Having Closer Tie with Iran on Oil Exploration

Malaysian under one of the country's state Chief Minister of Kedah had a discussion with Iran for investment in oil exploration and exploitation in Iran. Iran Ambassador to Malaysia Mehdi Khandaqabadi assuring Iran's great potentials through economic and cultural cooperation with Iran and Malaysia would transpire into benefits for both countries.

Also on discussion was to declare the two islands of Malaysian Langkawi and Iranian Kish as sister cities, promoting better ties and perhaps investment opportunities through government support.

Floating USD20 Billion of Oil & Gas Assets

Derrick Petroleum Services in their comprehensive study of the Top 1000 global oil and gas companies has identified that as much as $20 billion of oil and gas assets excess currently for sale worldwide. The whole assets are currently floating through 69 separately announced transactions.

Derrick estimation only takes into account deals with value greater than $10 million with North America leading the inventory with over $9 billion followed by Africa (22%), Europe, South America, Asia, Australia and Middle East.

Some of these assets could worth more due to their potential in future discoveries such as Devon Energy's offer for its four discoveries (Kaskida, Cascade, Jack and St. Malo) in the deepwater Gulf of Mexico.

It is interesting to note that most of the potential buyers are Middle Eastern and National Oil Companies compared to the usual Western investors and public listed companies.