Pertamina welcomes Iran?s plan to build refinery in RI

State owned oil and gas company PT Pertamina has welcomed Iran?s plan to build US$1 billion oil refinery in Indonesia, Bisnis Indonesia newspaper reported in its Saturday edition.

Pertamina will work with the Iranian government in building the planned oil refinery, but will have only a minority stake in the project.

?Pertamina?s position in building the oil refinery will be only a booster for foreign investment to come into Indonesia. Pertamina will have only a minority stake," Ariffi Nawawi, Pertamina?s president director, told reporters at the Bogor Palace while attending a meeting between President Megawati Soekarnoputri and the leaders of oil and gas sector on Friday.

Earlier, the Iranian government expressed interest in building an oil refinery in Indonesia.

Indonesia currently has nine oil refineries, all operated by state oil and gas firm Pertamina. (*)