The agreement was reached between Director General for Asia and Pacific at the Iranian Ministry of Petroleum Marziyeh Riyahi and Indonesia's Director General for Oil and Gas at the Indonesian Ministry of Energy and Mineral Resources Wiratmaja Puja.
Last October, Sudriman and Iranian Minister of Petroleum Bijan Zangeneh met in Tehran following which Zangeneh said that Tehran supports Jakarta’s proposal to return to the Organization of Petroleum Exporting Countries (OPEC).
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 developing and progressing, and both countries enjoy mutual capabilities to be activated,” Sudriman added.
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.
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