Currently, NIOEC owns 30 percent of shares in an oil refining project in Malaysia, with a capacity of 20,000 barrels a day. In addition, the company is eyeing to buy 40 percent of shares in a refinery in Indonesia, with a daily capacity of 300,000 barrels.
According to Razi, the cooperation is aimed to provide sales of Iranian-produced oil and to buy oil products if needed.
The National Iranian Oil Company (NIOC) will soon finalize a deal with Total to sell 160,000 barrels of crude daily to the company.
Currently, Iran is exporting 300,000 barrels a day to Europe, its major energy partner.
After sanctions against Iran were removed on January 16, Iran has come back to the global energy market, with an estimated 500,000 barrels a day expected to be added to the market.
