Auction Highlights: Raw Oil from Iranian Ship Sold for Rp 900 Million, Harley-Davidson Among Top Bids at BPA Fair 2026

The Asset Recovery Agency (BPA) of the Attorney General’s Office (Kejaksaan Agung) has sold 1.2 million barrels of crude oil seized from an Iranian tanker for approximately Rp 900 billion. The sale was finalized during the opening of the BPA Fair 2026 in South Jakarta on May 18, 2026.

The light crude oil was purchased by Pertamina Patra Niaga. The asset was originally cargo aboard the MT Arman 114, a supertanker flying the Iranian flag. The vessel and its contents were seized from the convict Mahmoud Mohamed Abdelaziz Mohamed Hatiba.

“The most fantastic thing we sold was certainly the crude oil. At the start of the pre-event, we sold it with a limit price of around Rp 800 billion and it has sold for around Rp 900 billion.”

Kuntadi, Head of BPA Kejagung

Auction Strategy and Asset Separation

The successful sale of the crude oil followed several unsuccessful attempts to sell the oil and the supertanker as a single package. Initially, the Attorney General’s Office offered the MT Arman 114 and its cargo together with a limit price of Rp 1.1 trillion. However, this joint auction failed to attract a buyer after three separate bidding rounds.

Kuntadi explained that the failure of the bundled auction was due to the highly specific criteria required for a potential buyer. To purchase the package, an entity needed to possess both a refinery permit and a ship permit simultaneously.

“Only previously, because the buyer had to be one package—someone who owned both a refinery permit and a ship permit. Those looking for this are very limited, which is why we split it.”

Kuntadi, Head of BPA Kejagung

By separating the cargo from the transport vessel, the BPA was able to target a broader range of buyers who only required the permits for the oil itself, leading to the acquisition by Pertamina Patra Niaga.

Status of the MT Arman 114

While the 1.2 million barrels of light crude oil have been sold, the MT Arman 114 supertanker remains unsold. The Asset Recovery Agency continues to seek a buyer for the vessel.

The current limit price for the supertanker is approximately Rp 200 billion. Kuntadi indicated that the vessel maintains significant value due to its size and mechanical specifications.

“Last time (the limit value) was around Rp 200-something billion. A ship that long, with an engine, must still have value.”

Kuntadi, Head of BPA Kejagung

The BPA Fair 2026 serves as a platform for the public to participate in auctions of seized assets, with the primary goal of increasing state revenue through the recovery of assets tied to legal convictions.