Pertamina seeks more partners to develop E. Java refinery
Monday, March 12 2007 - 12:42 AM WIB
State-owned oil and gas firm PT Pertamina is seeking new partners to develop an oil refinery in Tuban, East Java, Investor Daily reported Monday.
Pertamina's director for processing division Suroso Atmomartoyo said in Jakarta over the weekend that the company needed more than one partner to materialize its plan to develop the Tuban oil refinery with an estimated investment of between US$2 billion and US$3 billion.
Suroso said that the construction of the Tuban oil refinery was delayed from the previous schedule following the sharp increase in the price of steel used as construction material.
Pertamina has teamed up with Sinopec to develop an oil fuel refinery with a capacity of between 150,000 and 200,000 per barrels per day (bpd). (*)