Minister says Balikpapan refinery upgrade to be implemented as planned
Thursday, November 2 2017 - 12:45 AM WIB
Minister of Energy and Mineral Resources Ignasius Jonan said that the Balikpapan refinery upgrade project in East Kalimantan Province will be implemented as planned by state-owned oil and gas firm PT Pertamina.
He said in a statement issued on Wednesday that the estimated US$4.6 billion project will be implemented in two stages, of which the first stage targeted to be completed in 2019, and the second stage in 2021. He said that construction is expected to start next year. "Construction will start six months from now," he said, adding that he has sent a letter to President Joko Widodo inviting him to lead the ground-breaking ceremony.
Jonan said that the upgrading of the Balikpapan refinery will increase the refinery's capacity from the current 260,000 bpd to 360,000 bpd. The fuel products to be produced by the upgraded refinery will meet the Euro 5 specifications, compared to the current Euro 2 specifications.
Editing by Reiner Simanjuntak