Saudi Arabia's oil firm Saudi Aramco will supply 400,000 barrels of crude oil per day to Indonesia, an executive of Indonesia's state-run oil company PT Pertamina said here on Monday.

The Saudi oil will be processed in an oil refinery in the East Java town of Tuban, said Iin Arifin Takhyan, vice president of PT Pertamina.

The supply contract is expected to be signed when President Susilo Bambang Yudhoyono is visiting Saudi Arabia later this month, he said.

Indonesia is a member of the oil cartel OPEC, but the country's output has been falling over the last few years due to the lack of investments and depletion in aging fields.

Indonesia's average oil production fell to below 1 million barrels per day from the peaking output of 1.3 million bpd about 10 years ago or so.

Source: Xinhua