Pertamina seeks to accelerate completion of Balikpapan refinery project

State-owned oil and gas firm PT Pertamina is seeking to accelerate the completion of the multibillion dollar Balikpapan refinery upgrade project.

Rachmad Hardadi, who has been recently installed as the newly-created Director of Processing and Petrochemical Megaproject, reiterated that the first US$2.6 billion phase of the Balikpapan refinery upgrade project will be completed in 2019, increasing the capacity of the refinery from 260,000 bpd to 360,000 bpd producing Euro-2 fuel products.

Rachmad, who was previously processing director at Pertamina, said in a statement on Sunday that the second phase of the project, which will allow the refinery to produce Euro-5 fuel products, will be completed in 2021 at the latest.

?If can be (completed) quickly, why slow? In fact, in line with the latest development, where there is aspiration to produce fuel products with Euro-5 specification, we?ll try to meet the aspiration as soon as possible.? he said. Pertamina said previously that the second phase refinery upgrade project was aimed to allow the Balikpapan refinery in East Kalimantan to produce Euro-4 fuel products.

Editing by Reiner Simanjuntak