Malaysian state oil firm Petronas is still assessing its involvement in Iran's Pars LNG project, days after its partner Total (TOTF.PA: Quote, Profile, Research) said it would not spend more money on Iranian gas for now.

Petroliam Nasional Bhd (Petronas) [PETR.UL], which contributed about 44 percent to total government revenues, on Tuesday also posted a record net profit of $18.1 billion for the the year ended March 31, up from $12.9 billion a year ago.

Petronas reiterated its long-held view that it remained interested in Iranian gas but shied away from pushing ahead with an investment.

Yet, it said spiralling costs made an immediate decision impossible, not linking its decision to political tensions, like France's Total had done last week.

Total (TOTF.PA: Quote, Profile, Research) said it would not invest due to political tensions, making the French company the latest in a slew of European firms that have shelved immediate plans for multi-billion dollar Iranian liquefied natural gas export projects.

European and Asian energy firms had been keen to invest in Iran's vast gas industry, but have faced pressure from the United States. The tensions increased this month after Iran tested long-range missiles, sending jitters through financial markets and prompting a stern response from the United States.

"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 at a news conference for the results of Malaysia's largest firm.