Pertamina still seeks partner to develop Balongan expansion project

State oil, gas company PT. Pertamina is still seeking partner(s) to develop an expansion project at its Balongan refinery in Indramayu, West Java, the company?s officer told Petromindo.com on Friday.

?Our (Pertamina) main concern is that the partner(s) can secure crude for the project. Until now there is no commitment yet from any countries including from Kuwait,? company's corporate secretary Basuki Trikora said.

He also said that Pertamina has no intention to sign any deal with any parties in the near term.

Last year, Pertamina said the expansion project will add another production unit with a crude processing capacity of 200,000 barrels per day (bpd) to the refinery which is the main supplier of fuel to Jakarta and surrounding areas.

The new production facility is expected to start operation in 2014.

The refinery now has a crude processing capacity of 125,000 bpd and produces various fuels such as Pertamax Plus, Pertamina Dex, unleaded gasoline and LPG.

Pertamina said in January 2009 that it had signed agreements with three international banks namely BNP Paribas, Sumitomo Mitsubishi Banking Corp. and HSBC on US$225 million loans for the development of a polypropylene production plant at Balongan. (bernard)