Middle East Heats Up, Pertamina Holds Oil And Gas Field Investment Plans In Iran

Pertamina (Photo: dock. Antara)

JAKARTA - PT Pertamina (Persero) has opened its voice regarding the continuation of the oil and gas investment plan in Iran. This follows the heating up of the geopolitical conflict between Iran and Israel.

Pertamina's vice president of Corporate Communication, Fadjar Djoko Santoso, said that in line with the escalation of the conflict, his party was still holding back investment plans.

"It has not yet continued (the investment plan,)" said Fadjar when contacted by VOI, Wednesday, April 17.

Previously, Pertamina had signed a memorandum of understanding with Iran to manage the prospective block, namely the Mansouri Block.

PT Pertamina (Persero) and the Iranian oil company (NIOC) signed a memorandum of understanding (MOU) for the initial study of two giant oil fields in Iran, namely Ab-Teymour and Mansouri (Bangestan - Asmari) in 2016. The signing was carried out by Pertamina President Director Dwi Soetjipto and NIOC Managing Director Ali Kardor at the NIOC Headquarters in Tehran, Iran.

Then in 2017 Pertamina officially submitted proposals for the development of two oil and gas fields in Iran, namely Ab-Teymour and Mansouri, which have an estimated reserve of more than 1.5 billion barrels each.

Then on May 23, 2023, during his visit to Indonesia, Iranian President Seyyed Ebrahim Raisi met with President Jokowi in Indonesia and signed 11 memorandums of understanding, one of which was in the oil and gas sector.