Pertamina?s CCT project in Lawe Lawe to start in 2013
Friday, June 29 2012 - 01:08 AM WIB
Total investment for the project is estimated at US$500-600 million, or about Rp 5-6 trillion.
General Manager of Pertamina Refinery V unit Balikpapan, MR Sihombing explained that the CCT will function as a buffer stock crude oil for the entire refineries operated by the company.
?The FEED has been completed, and is currently undergoing tender prequalification process to select the contractor. Contract with the winning bidder is targeted (for) end of December 2012, so that early 2013 ground breaking or construction can start,? he told reporters during a visit to Balikpapan refinery.
Elsewhere, Sihombing said that the CCT will allow Pertamina to save freight cost and avoid the risk of volatility in crude oil price. ?For sure, when there is problem in the delivery of crude oil, for example because of piracy, production at the refineries do no have to stop because of the absence of crude oil as raw material. Although the CCT is located in Balikpapan, it will not only serve the Balikpapan refinery but also other refineries in Indonesia,? he said.
He further said that with the presence of the CCT, the crude oil stock of national refineries can be raised to 30-day level, compared, for instance to 10 days at the Balipapan refinery currently. (*)