14 October 2015 - 17:50
  • News ID: 248463
Iran Supports Indonesia’s OPEC Return Bid

TEHRAN Oct. 14 (Shana) – Minister of Petroleum Bijan Zangeneh following a meeting with the visiting Indonesian Minister of Energy and Mineral Resources Sudriman Said in Tehran on Wednesday announced Iran supports Indonesia’s proposal to return to the Organization of Petroleum Exporting Countries (OPEC).

“We hope that with Iran’s support in the upcoming OPEC meeting, Indonesia’s return to the organization can be finalized. Then, Tehran and Jakarta can resume their bilateral cooperation in the global oil market,” he told reporters.

“Iran is interested to cooperate with Indonesia in crude oil, gas condensate, and LNG export,” Zangeneh added, “Indonesia can also invest in Iran’s oil, gas and petrochemical projects.”

He said that Iran can also participate in construction of refineries in Indonesia in a way mutually attractive to both sides and hoped that the urea fertilizer production project in Iran which was put on hold because of sanctions will be taken up again between the two countries.

“Indonesia is interested in buying LNG from Iran to generate electricity,” said the Iranian minister.

The Indonesian minister also told reporters that his country needs oil and gas and that Tehran and Jakarta can cooperate in this area.

“Indonesia is developing and progressing, and both countries enjoy mutual capabilities to be activated,” he added.

Prior to his departure to Tehran, he said Jakarta is interested in increased cooperation with Iran after removal of sanctions. 

“Indonesia shall not be the last among the countries queuing up to enter Iran.”

Jakarta wants to return to OPEC where it used to be a major oil producer and is looking for investment in this sector as it has turned to an importer of energy.

Iran and Indonesia have agreed to construct small-size refineries of 20,000 to 300,000 bpd capacity in Indonesia. The joint venture project is worth around 3 billion dollars in which Iran has a 30 percent share.

Oil officials from Iran and Indonesia are going to follow their negotiations on Thursday, Zangeneh said.
News ID 248463

Your Comment

You are replying to: .
0 + 0 =