Pertamina says Banten refinery BFS to be completed this month

State oil and gas company PT.Pertamina said on Wednesday that Bankable Feasibility Study for the construction of 300,000 BPD refinery in Bojonegara, Banten will be completed in end of February 2009.

Processing Director Rukmi Hadihartini told parliamentary hearing in Jakarta on Wednesday that the BFS was carried out by Axen Consultant and Design Engineering phase would be entered in April 2009.

Rukmi said shareholders of the refinery would by Pertamina (40%), Oil Refining Industries Development Company (ORIDC) of Iran (40%) and Petrofield Malaysia (20%).

The project will be built in two stages with one 150,000 BPD will be constructed to refine Iranian Extra Heavy Crude (50%) and Iranian Heavy Crude (50%), which will be supplied by NIORDC of Iran. The refinery will be designed with high complexity to produce fuel and petrochemical products, she said. The products, she said, will include LPG, aviation fuel, gasoline RON 90/95, diesel, fuel oil, coke and sulfur.

The plant, she said, is expected to come onstream in 2012.

Rukmi added that refinery would require 110MMCFD of gas supply. (bernard)

Bojonegara Refinery Project Summary

Capacity 300,000 BPD

Start-up date 2012 (first phase, capacity 150,000 BPD)

BFS contractor/completion Axen Consultant/ February 2009

Shareholders Pertamina (40%), Oil Refining Industries Development Company (ORIDC) of Iran (40%) and Petrofield Malaysia (20%).

Crude Feed/Supplier Iranian Extra Heavy Crude (50%) and Iranian Heavy Crude (50%), supplied by NIORDC of Iran.

Products LPG, aviation fuel, gasoline RON 90/95, diesel, fuel oil, coke and sulfur

Refinery type High complexity, Total Conversion (Coker + Hydrocracker).

Offtaker Pertamina 70%, export

Project milestones (i) Shareholder Agreement (SHA) PT Pertamina, ORIDC and Petrofield, signed March 11, 2008;(ii) 110MMCFD gas supply agreement between PT BAGS and Pertamina;(iii) Support Letter from Banten Governor to supply raw water, electricity and infrastructures;(iv) Land use agreement by Pelindo (v)Support Letter from PT PLN to supply 5MW of power (vi) BKPM approval to establish JV company ( vii)draft Article of Agreement ready to be signed by shareholders for the formation of Banten Bay Refinery JV.