Pertamina sees Rosneft as potential partner in Bontang refinery project
Tuesday, May 24 2016 - 01:56 AM WIB
State-owned oil and gas firm PT Pertamina will offer Russia?s oil giant Rosneft to become a strategic partner in the development of the Bontang oil refinery project in East Kalimantan.
This was said by Pertamina President Director Dwi Soetjipto on Monday. He said that one of the considerations to select Rosneft as potential partner in the new grass root refinery (GRR) project is the Russian firm?s capacity in supplying the required crude.
?It is very possible for it (Rosneft) to enter the GRR project,? he said, adding that Rosneft is one of the world?s largest crude oil producers that would help ensure crude supply for the project. He expected that Pertamina will be able to get information on the potential crude supply from Russia for the Bontang refinery project within the next two weeks.
The estimated US$14 billion Bontang refinery project, which will have a capacity of 30 million bpd, has been targeted to be completed in 2023.
As has been previously reported, Pertamina will team up with Rosneft in developing the estimated $13 billion Tuban oil refinery project in East Java. President Joko Widodo met with Rosneft board Chairman Igor Sechin on Friday.
Editing by Reiner Simanjuntak