Pertamina seeks to refine 125,000 bpd of crude in Singapore

State oil and gas firm Pertamina said on Friday it planned to process around 125,000 barrels of oil per day (bpd) in Singapore for up to six months because its Balongan refinery would be shut for maintenance.

Pertamina originally planned to refine only 50,000 bpd for three months starting in June.

"It would be around 125,000 barrels per day, for five to six months," Pertamina deputy director for processing, Asyhab, told reporters, adding the deal was still subject to approval from the firm's board of commissioners.

Pertamina plans to shut its 125,000 bpd Balongan refinery in West Java in August.

Pertamina president Baihaki Hakim last week said the company would discuss the processing deal with Shell Singapore, a unit of European oil giant Royal Dutch/Shell group, Singapore Petroleum Co Ltd and ExxonMobil Corp.

"We have sent the terms of reference to them and are waiting for their answer," Asyhab said.

Asked what would be the main criteria in selecting a company, he said: "The price will be the key." (godang)