Jakarta Post

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post
The Jakarta Post
Video Weather icon 30°C
DKI Jakarta, Indonesia
30°C Partly Cloudy

Dry and mostly cloudy throughout the day.

  • Wed

    26℃ - 32℃

  • Thu

    25℃ - 32℃

  • Fri

    25℃ - 31℃

  • Sat

    26℃ - 30℃

Pertamina deal awaiting new Iranian Cabinet: Deputy minister

  • News Desk
    News Desk

    The Jakarta Post

Jakarta | Wed, August 9, 2017 | 03:35 pm
Pertamina deal awaiting new Iranian Cabinet: Deputy minister Energy and Mineral Resources Deputy Minister Arcandra Tahar (JP/Dhoni Setiawan)

State-owned oil and gas company Pertamina is awaiting a decision on the new Iranian Cabinet lineup in connection with its agreement to manage the Ab-Teymour and Mansouri Iranian oil fields, following Saturday's inauguration of President Hassan Rouhani, the energy deputy minister has said.

“Iran just formed its new cabinet over the weekend. But they have promised us that an announcement [on the oil fields] will be made within four months at the latest,” Energy and Mineral Resources Deputy Minister Arcandra Tahar told reporters on Tuesday after a press conference in Jakarta.

Arcandra had accompanied Maritime Affairs Coordinating Minister Luhut Binsar Pandjaitan of his state visit to Iran from Aug. 5 to Aug. 7, during which he represented President Joko "Jokowi" Widodo at President Rouhani's inauguration.

Read also: Indonesia seeks commitment from Iran on oil field exploration

During the visit, Luhut also sought the Iranian government's commitment regarding Pertamina's development of the two oil fields. President Jokowi also addressed the issue when he visited Iran in December 2016.

In its bid to manage the oil fields, Arcandra admitted that Pertamina was facing tough competition from two contenders: Denmark's Maersk and Russia's Lukoil. “If God allows, we will hear good news,” he said.

In March, Arcandra said the two oils fields have 3 million barrels in proven oil reserves, while Indonesia's proven reserves stood slightly above this figure at 3.8 million barrels. (dea/bbn)

Join the discussions