JAKARTA (Yosefardi) – State oil and gas company PT Pertamina will upgrade capacity of its refineries, inviting 4 investors as partners.
That 4 investors are Saudi Aramco, Sinopec, JX Nippon, and PTT Thailand. Pertamina expects to sign the memorandum of understanding (MoU) with partners in December 10, 2014.
While oil refineries targeted for capacity upgrading are Balikpapan refinery, Balongan, Cilacap, Plaju and Dumai. This project will cost US$25 billion.
The capacity of refineries is targeted to reach 1.61 million barrel per day from current 820,000.
Pertamina also plans to build 2 units of refinery with capacity of 300,000 barrel per day.