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Indonesia’s Pertamina plans to invest in two oilfields in Iran

by ChemOrbis Editorial Team - content@chemorbis.com
  • 09/08/2016 (15:35)
According to media reports, Indonesia’s state owned oil and gas company Pertamina signed a memorandum of understanding (MoU) regarding two Iranian oilfields. It will be the first investment of the company in the upstream sector in the country.

Iran’s Ab-Teymor and Mansouri oilfields are located onshore and Pertamina will be able to examine these areas for six months within the frame of this agreement. It is estimated that these oilfields’ overall reserves contain more than 5 billion barrels.

President Director & CEO of Pertamina, Dwi Soejipto remarked that Pertamina gives precedence to Iran and they seriously plan to invest in Iran’s upstream oil and gas in order to increase Iran’s oil production.

Media reports noted that Iran’s crude oil output increased to about 3.6 million barrels/day after the lifting of international sanctions. Iran is the sixth largest oil producer in the world. In the next few months, Iran may be able to regain its pre-sanctions market share.

Meanwhile, the first liquid petroleum gas (LPG) shipment is going to be imported from Iran in September by Pertamina.
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