Pertamina, Mitsui to team up to revamp Cilacap refinery

State-owned oil and gas firm PT Pertamina signed a preliminary agreement with Japan's trading company Mitsui & Co. to expand the Cilacap refinery in Central Java.

Pertamina and Mitsui will team up to construct a $1.3 billion expansion to increase gasoline production at the refinery, Pertamina’s CEO Ari Soemarno said Friday.

Earlier, Ari said that the investment would be needed to increase higher prices products such as as gasoline, aviation oil, aromatic and olefin and cut the output of cheap marine fuel oil.

He said revamping works on Cilacap could commence in 2007 with completion seen in 2009. (godang)