Baku, Azerbaijan, Aug. 16
By Fatih Karimov – Trend:
Iran’s Petrochemical Commercial Company and Indonesia’s Pertamina signed a memorandum of understanding to cooperate in petrochemical sector.
Under the memorandum, the Indonesian state-run firm agreed to purchase polymers, LPG, gas condensate and bitumen from the Iranian company, SHANA reported Aug. 16.
The Iranian side also expressed readiness to buy aromatics from Pertamina, based on the deal.
An executive team including the representatives from both sides will be formed to follow the issue.
Pertamina signed an initial agreement with the National Iranian Oil Company (NIOC) early this month to develop two oil and gas blocks in Iran.
The two companies will study Mansouri and Ab Teymour blocks in Iran’s oil-rich Khouzestan province.
Iran and Indonesia have stepped up their cooperation, with Pertamina signing a deal with NIOC in May to buy 600,000 tons of refrigerated liquefied petroleum gas (LPG).
The company is planning to import 1 million barrels of Iranian Light crude oil in the third quarter of this year to test the grade at a refinery in Central Java.