Wednesday, March 12, 2008
Pertamina to Build US$5.6 billions Oil Refinery in Banten This Year

Source: Antara

Jakarta (ANTARA News/Asia Pulse) - State-owned oil and gas company PT Pertamina, National Iranian Oil Refining and Distribution (NIORD) and Petrofield of Malaysia will soon bring to reality a joint project to build a US$5.6 billion oil refinery in Bojonegoro, Banten.

The refinery, to be completed in 2013, has been in preparation since 2006, and is planned to have a processing capacity of 150,000 barrels of crude oil per day, Pertamina President Ari H. Soemarno said. Pertamina and NIORD will each have a 40 per cent stake with the Malaysian partner to have the remaining 20 per cent.