Indonesia Eyeing Development of 2 Oilfields in Iran

Indonesia Eyeing Development of 2 Oilfields in Iran

"I hope a team from here would soon make preparation to the Iranian counterparts that operation of the two oil fields would be awarded to Indonesia," President Joko said in a cabinet meeting on Friday discussing the result of his state visit to Iran in December.

The Indonesian president said in addition to the oil sector, the two countries could cooperate in the development of power plants and possible imports of liquefied petroleum gas (LPG) at a more reasonable price from Iran.

He said during the visit, Indonesia and Iran agreed to build an oil refinery in Indonesia at a cost of US$5 billion with a processing capacity of 300,000 barrels of crude oil per day.

In relevant remarks in mid-December, the Indonesian president voiced his country's willingness to expand mutual cooperation with Iran in economic and trade fields.

"We hope a new era of relations will begin in Indonesia-Iran relations," President Joko told reporters.

"I have agreed with Iranian President Hassan Rouhani to raise the volume of exchanges between Tehran and Ankara to the level of two billion dollars from the current $280 million," he added.

The MoUs dealt covered different areas such as electricity, trade and joint investment and judicial cooperation.

The two countries are slated to sign another eight MoUs in different areas.

Indonesian President Joko Widodo was officially welcomed by his Iranian counterpart Hassan Rouhani in Saadabad Cultural Complex in North of Tehran on Wednesday morning.

Widodo's visit was in response to President Rouhani's visit to Indonesia last year.

President Rouhani visited Indonesia last year and met Indonesian officials to broaden mutual cooperation.

Head of Indonesia Investment Coordinating Board (BKPM) Thomas Trikasih, several ministers, officials and private sector CEOs are accompanying Widodo during his visit to Iran.

Source:Fars