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View all search resultsAGO to expedite auction of seized Iranian tanker in Batam
After two auctions failed to produce a buyer, the tanker and its cargo of crude oil remain idle in Batam, though it could be used as a "bargaining chip" to seek the release of two Indonesian vessels stuck in the Gulf, an expert suggests.
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The Iranian-flagged MT Arman 114 and the Cameroon-flagged MT S Tinos sail side by side in the North Natuna Sea on July 7, 2023, while conducting an illegal ship-to-ship transfer of crude oil, according to the Maritime Security Agency (Bakamla). (Reuters/Handout)
T
he Attorney General’s Office (AGO) aims to fast-track the auction of an Iranian tanker and its cargo of crude oil, which have been held in Riau Islands province since they were seized in Indonesian waters in 2023.
“We have instructed officials to speed up the disposal of seized state assets in the Riau Islands and to promptly report any obstacles in the asset recovery process,” said Kuntadi, who heads the Asset Recovery Agency (BPA) under the AGO.
Kuntadi made his statement during a visit to inspect the vessel, currently anchored off Batu Ampar district in Batam, where it is in the custody of the Maritime Security Agency (Bakamla).
Priandi Firdaus, head of intelligence at the Batam Prosecutor’s Office, said the AGO had held two auctions for the tanker and its cargo of 1.2 million barrels of light crude oil, which have a combined value of Rp 1.1 trillion (US$64 million), but both failed to secure a buyer.
During the last auction in January, three local oil and gas companies were disqualified for not meeting the licensing requirements.
“I cannot say when the third auction will begin,” Priandi said on Wednesday. “I have not received further information on if it will be reauctioned or what direction the AGO will take.”
He said the very large crude carrier (VLCC) was still in good condition despite three years of inactivity, adding that the Batam Prosecutor’s Office was coordinating closely with Bakamla to safeguard the vessel throughout the legal process.
