Iran, Indonesia sign deal to revive old wells

By Alexander Ginting

Iran has signed a deal with Indonesia to export technological and engineering services in oil sector to the latter country, National Iranian Oil Company reported on Tuesday.

In a meeting between Indonesian Parliament Speaker Marzuki Alie and the head of Iran's Oil Industry Research Center Hamidreza Katouzian, they signed a preliminary agreement to export technological and engineering services to Indonesia to revive outdated and offline oil wells.

In the meeting, Marzuki Alie demanded that Iran's Oil Industry Research Center cooperate in joint plans to revive Indonesian outdated oil wells.

Indonesian Parliament speaker told that there were 1000 outdated and offline oil wells and that the necessary technology for reviving them and linking them to production cycle was lacking.

Editing by Reiner Simanjuntak