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Iran wants to invest 600 million dlrs in Indonesian energy projects
AFP
JAKARTA
Petroleumworld.com 04 28 06
Iran wants to invest 600 million dollars in energy projects in Indonesia, the world's most populous Muslim nation, the Indonesian foreign ministry said Friday.
Iranian President Mahmoud Ahmedinejad will sign a memorandum of understanding on energy cooperation during his visit to Indonesia on May 10, said foreign ministry spokesman Yuri Thamrin.
"Iran has shown a serious intention to invest in the energy sector," Thamrin told a press briefing.
Tehran has offered to invest 200 million dollars in a project to improve offshore platforms and 400 million dollars to develop a gas pipeline linking South Sumatera to Batam island, just opposite Singapore, he said.
He said he hoped the deals could be signed during Ahmedinejad's visit.
A lack of new invesment is blamed for Indonesia's declining oil production.
Indonesia is the only Southeast Asian member of the Organization of Petroleum Exporting Countries (OPEC) but the country's oil output has fallen five percent annually over the last decade to less than a million barrels per day.
AFP 28 04 06 0908 GMT
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