Indonesia plans cooperation with Iraq to sell oil in E. Asia

Indonesia is exploring the possibility of cooperating with Iraq to sell oil in East Asian countries, Minister of Energy and Mineral Resources Purnomo Yusgiantoro said Monday as reported by Neraca daily.

?Cooperating with Iraq could benefit us a lot because that country is trying to boost its oil sales,? Purnomo told reporters.

Indonesia, Asia?s only OPEC member, had cooperated with Iraq in implementing Oil for Food Program sponsored by the United Nations, the minister said.

The official said Indonesia?s cooperation with Iraq in oil exploration field would further develop in the future.

Last year, Pertamina and The Iraqi Oil Exploration Company signed an agreement to allow the Indonesian firm to explore for oil in Iraq?s Western Desert area.

Recently, the Iraqi oil ministry has asked Indonesia?s state oil and gas firm Pertamina to soon carry out exploration survey in that country.

Pertamina had planned to open its office in Bagdad. The company had also planned to invest around US$35 million in exploration activities in Iraq. (*)