Indonesia’s Pertamina to launch oil coop. with Iran

News ID: 3714397 -
TEHRAN, Jul. 16 (MNA) – An Indonesian oil company has announced the plan to cooperate with Iran in upstream oil and gas sector.

Pertamina, which is an Indonesian state-owned oil and natural gas corporation based in Jakarta, has also referred to the eagerness of the National Iranian Oil Company (NIOC) to develop oil and gas infrastructure in the form of mutual collaboration.

Accordingly, the Indonesian firm has announced that in the current month a Memorandum of Understanding (MoU) will be inked with NIOC over cooperation in various oil areas especially in upstream sector.

Dwi Soetjipto Pertamina’s President Director & CEO, welcomed the idea of Iran’s making investments in Indonesia saying “NIOC has previously voiced willingness to partake in the Indonesian oil industry.”

“Iran is after constructing fuel storage tanks as well as oil refineries in Indonesia,” noted Soetjipto pointing to his country’s high demand for both sections.

The official also stated that the MoU will be sealed with Iran in mid- or late July when ongoing negotiations reach a conclusion.

Pertamina and NIOC will first begin cooperation in Iranian oil and gas blocks the study phase of which has been carried out over six months.

Later, evaluation of the Iranian blocks will be undertaken which required six more months.

Top-ranking oil officials of Iran’s Oil Ministry as well as Indonesia’s Ministry of Energy and Mineral Resources had discussed venues for expansion of bilateral ties during the first meeting of Joint Committee of the two countries in the fields oil, gas and petrochemical fields held earlier in February.

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