Wednesday, February 12, 2014

Bilateral Relations: Iran, Indonesia ink refinery construction deal worth $3b

Source: IRNA

Tehran, Feb 11, IRNA –Indonesian energy company Crescendo signed a refinery construction deal worth of three billion dollars with an Iranian firm involved in oil and gas sector.

Under the agreement signed by the head of the Indonesian company, Roudi Rejab, and director general of the Iranian company ˈNakhl-e Barani Pardisˈ, Hassan Khosrowjerdi, the Iranian side will build the refinery in Indonesia.

After signing the deal, Roudi predicted that the refinery will refine some 20,000 to 300,000 barrels of Iranian crude to produce oil derivatives.

Preliminary studies on the project will take at least one year to complete, he said, noting that construction of the refinery will begin in 2015 and will become operational after three years.

The accord was signed in an economic meeting attended by members of the Indonesian Chamber of Commerce and an Iranian delegation.