Q8 to develop oil refinery and petrochemicals complex in West Java

Kuwait Petroleum International (Q8) said on Wednesday that it has signed a memorandum of understanding with South Korean SK Energy to develop an integrated project consisted of a Kuwaiti oil refinery and a petrochemicals complex in Indonesia.

Q8 said that the two companies will partner with Indonesian state-owned oil and gas firm PT Pertamina in developing the project as quoted by kuna.net.

Hussein Ismail, Q8 board chairman and managing director, signed the agreement for the Kuwaiti company, while Bong Kyun Park, SK Energy CEO, signed for the South Korean Company.

The planned project, to be located in West Java?s Balunjan area, is designed to refine Kuwaiti crude oil in a percentage of 100 with an accommodation of 200-300 thousand barrels per day in an integrated system, as well as a petrochemicals complex.(*)