Pertamina (Indonesia) in refinery JVs with Rosneft and Aramco

Pertamina (Indonesia) in refinery JVs with Rosneft and Aramco

Indonesian oil company Pertamina has signed a joint-venture agreement with
Russian oil group Rosneft for the development of the Tuban refinery project
and plans to sign a similar joint-venture agreement with Saudi Arabia's
state-owned oil company Saudi Aramco for the development of the Cilacap
refinery upgrade project in December 2016.

Pertamina has long been searching for a partner for the US$12bn Tuban
project, holding negotiations with Saudi Aramco (Saudi Arabia), Sinopec
(China), Kuwait Petroleum International (KPI, Kuwait) and a consortium of
Thai companies (PTT and Thai Oil). The new refinery would have a crude
processing capacity of 300,000 bbl/d (15 Mt/year) and would be integrated in
the TPPI petrochemical refinery acquired by Pertamina in late 2015. The new
facility would be commissioned in 2021.

The Cilacap refinery expansion project is estimated at US$4-5bn and aims to
add 25,000 bbl/d to the existing facility. It will improve the quality of
oil products (higher complexity level and higher value-added product) and
will increase the petrochemical production capacity. It is developed by
Pertamina, in partnership with Saudi national oil company Saudi Aramco. The
engineering, procurement and construction (EPC) is expected to be awarded in
2019, and construction works should last three years; the capacity expansion
should be completed in 2022.

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Ref:
http://www.enerdata.net/enerdatauk/press-and-publication/energy-news-001/per
tamina-indonesia-refinery-jvs-rosneft-and-aramco_38474.html

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com