Malaysian state oil firm Petroliam Nasional Bhd (Petronas) is still assessing its involvement in Iran's Pars LNG project, days after France's Total said it would not spend more money on Iranian gas for now.

"We continue to be interested in operating in Iran. I have read the announcement by Total, but as Petronas we continue to be interested in Iran," Chief Executive Officer Hassan Marican said.

"But on the LNG project specific, where we are in a consortium with Total, I have said previously that we cannot come to a final decision on that particular project because of the increase in cost and because we have not completed our discussion with the Iranians," he added.

Iran has repeatedly extended a deadline for Total, which holds 40 percent of the South Pars project, and Petronas, with 10 percent, to make a final investment decision.

Petronas also posted a net profit of $18.1 billion for the the year ended March 31, 2008, compared with $12.9 billion a year ago, Hassan said.

Revenues at Malaysia's biggest company rose 29.8 percent to $66.2 billion during the financial year.


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