Iranian and Indonesian oil companies agreed on joint exploration of two Iranian fields

Almaty. August 10. Silkroadnews – National Iranian Oil Company (NIOC) and Indonesian state-owned oil company Pertamina signed a Memorandum of Understanding on joint research of two major oil fields Mansuri and Ab-Teymur in the south of Iran, IrTAG reports.

The oil fields to be explored by Pertamina and NIOC are located in the oil-rich Iranian province Huziston and are known for more than 5 billion barrels of estimated reserves.

The memorandum is considered as the first step made by Pertamina in investments into Iranian oil projects.
As a part of its plans Pertamina expects to raise each block daily output by 30 thousand barrels. The company projects its investment costs to make $5.31 billion this year.

Pertamina has also announced its plans to import the first shipment of liquefied petroleum gas (LPG) from Iran this September. Earlier in May the company’s officials said about their decision to acquire 600 thousand tonnes of liquefied petroleum gas from NIOC.