Indonesia seeks exploration of two oil fields in Iran

The statement, issued by the Office of the Coordinating Economic Minister, says the proposals will be submitted during a visit of Coordinating Economic Minister Darmin Nasution to the country from Feb. 26 to 27.

"The oil fields are located in Ab Teymour and Mansouri, Bangestan province, the eastern part of Iran,” said a press statement on Monday.

Based on a study conducted by Pertamina, the oil reserves in the two fields amount to 1.5 billion barrels. "The production potential reaches 200,000 barrel per day in each field,” the statement says.

Previously, Energy and Mining Resources Deputy Minister Archandra Tahar previously expressed the government’s wish to do business in Iran.

Meanwhile, Pertamina’s upstream director, Syamsu Alam, said the company had discussed the matter with an Iranian oil company, National Iranian Oil Company (NIOC), on Feb. 11, kompas.com reported.

Indonesia also plans to buy natural gas at competitive prices from Iran to meet domestic energy needs, particularly for power plants to supply electricity to the petrochemical and fertilizer industry, as well as for special economic zones. (bbn)