Hi-Tech wants resumption of talks on E. Java refinery project

Hi-Tech Corp. of Saudi Arabia has planned to dispatch a team of company officials to Indonesia for resuming talks with state oil and gas oil firm Pertamina about the possibility of jointly building an oil refinery in Tuban, East Java, Pertamina president director Baihaki Hakim told Petromindo.Com on Saturday.

Baihaki said through their talks with Hi-Tech?s visiting officials they would try to determine the firm?s capability to cooperate with Pertamina on the oil refinery project.

?We need to see whether or not they are capable,? Baihaki said.

In June 2001, Pertamina and Hi-Tech signed a memorandum of understanding to build a US$1.3 billion oil refinery. The plan was that Pertamina would have minority interest in the project which had been planned to process 1.5 million barrels per day (BPD) of crude oil.

Meanwhile, Pertamina?s downstream director Muchsin Bahar said in April his company had terminated the oil refinery project plan. Muchsin declined to mention the reason behind the termination.(godang)