Pertamina president director Dwi Soetjipto (right) with Pertamina upstream director Syamsu Alam (Photo: Antara/Wahyu Putro)

Pertamina-NIOC to Sign Oil and Gas Agreement in Mid-July

Annisa ayu artanti • 12 July 2016 11:54

medcom.id, Jakarta: Pertamina expects to sign an agreement with National Iranian Oil Company (NIOC) this month to evaluate investing in two oil and gas blocks in Iran.

"We will evaluate oil and gas blocks there. We are permitted to see two fields," said Pertamina upstream director Syamsu Alam in Jakarta, on Monday (7/11/2016).

"The reserves in the two fields are three billion barrels," he continued.

Separately, Pertamina president director Dwi Soetjipto believes the agreement could be sign in mid-July. The company has allocated USD1.5 billion to manage overseas oil and gas blocks.

"We hope to sign MoU with Iranian oil company. Afterwards, we will study two or four blocks there," he stated.

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(WAH)