Indonesian Energy Minister, Sudirman Said, arrived in Tehran, Iran to discuss bilateral ties and to sign a Memorandum of Understanding (MoU) on the purchase of crude and liquefied petroleum gas (LPG) from Iran, Trade Arabia wrote.

Iran’s Economy Minister, Ali Tayyebnia, during his recent visit to Indonesia, had voiced Iran’s readiness to supply 200,000bp/d to Indonesia, Iran Daily reported citing Fars News Agency. Last week, Tayyebnia said that Iran will ramp up crude oil production and reclaim its lost share of exports.

The Iran’s Economy Minister made the remarks in an interview with Indonesian Metro TV on the sidelines of the 41st Annual Meeting of the Islamic Development Bank (IDB) Group Board of Governors, in which he also said that currently, former customers of Iran’s oil want to resume purchase from Iran.

In addition, he referred to $2b trade exchanges between Tehran and Jakarta before the sanctions and called for the revival of ties. Furthermore, he called for joint investment between Iranian and Indonesian companies in the fields of downstream and petrochemical industries.