EXCLUSIVE: Pertamina extends crude processing deal with Shell
Friday, December 22 2000 - 06:00 AM WIB
State oil and gas company Pertamina said it had reached agreement with Shell International Eastern Trading Company (Sietco) to extend the contract for the processing of crude oil owned by the state company.
Pertamina's president Baihaki Hakim told Petromindo.Com that the new contract would be effective from Jan. 1, 2001 to March 31, 2001.
The volume of crude oil to be processed to Sietco under the new contract will be increased to 100,000 barrels from 50,000 barrels under the current contract which is effective from Oct. 1, 2000 to Dec. 31, 2000.
"The crude processing deal has been extended with a larger volume in anticipation of the decrease in Pertamina's fuel output as the result of the turnaround of the Balongan refinery," Baihaki said on the sidelines of the impromptu visit to Pertamina's fuel depot in Plumpang, North Jakarta.
Baihaki said the Balongan refinery in West Java owned by Pertamina would undergo overhaul in January.
Baihaki refused to disclose the fee to be received by Sietco under the new contract.
Under the current contract, Sietco process 50,000 barrels of oil imported by Pertamina from Arab.
Sietco processes the crude into mogas with 97 octanes (16 percent), kerosene (20 percent), automotive diesel oil (18 percent) and fuel oil (43.5 percent), refinery balance (2.5 percent). (Godang/Epin)