Bakrie wins Iran oil deal

JAKARTA (JP): A subsidiary of Bakrie Group has won a contract to exploit the biggest oil field in Iran, Antara reported yesterday.

Bakrie Investindo will develop the US$170 million Balai oil project in southern Iran with BOW Valley of Canada, Antara quoted Indonesian Ambassador in Tehran, Sumitro, as saying.

Iran has also ordered $10 million worth of oil-related equipment from PT Citra Tubindo, he said.

Trade between Indonesia and Iran has been growing each year.

Indonesia's total exports in 1995 were $132 million -- including paper, pulp, textile and electronic products -- while imports from Iran were $257 million -- including fuel, steel products, garments, fruits, aluminum, spices and car spare parts.

The Iranian government is also considering a bid from Indonesia's Bukaka group to build embarking corridors at the new Imam Khomeini International Airport in Tehran, Sumitro said. (08)