Pertamina goes on with plan to build Tuban refinery
Monday, September 15 2003 - 07:17 AM WIB
State oil and gas company Pertamina said on Monday it was sticking to its plan to start construction of 125,000-150,000 BPD refinery in Tuban, East Java next year and expected the project to be completed in 2008.
Pertamina president Baihaki Hakim said the new refinery, which will be constructed within TPPI petrochemical complex compound, will cost around US$1.5 billion.
Meanwhile, Pertamina downstream director Muchsin Bahar said that the crude requirement will be supplied from ExxonMobil?s Cepu oilfield also in East Java, which is expected to come onstream around 2006. Muchsin said naptha production from the refinery would be supplied to TPPI.
Baihaki said Pertamina has thus far intended to build the refinery on its own after earlier joint venture scheme with a Saudi company failed.(godang)