p>Pertamina (Jakarta), Indonesia's state owned energy company, has signed a memorandum of understanding with Kuwait Petroleum International (Kuwait City) to build an oil refinery at Balongan, West Java, Indonesia. Indonesia's industry minister Mohamad S. Hidayat said that the Kuwaiti partner will prepare a feasibility study within the next six months with construction likely to start in the first quarter of 2011.
The new refinery will be designed for 200,000 bbl-300,000 bbl/day and will triple the existing throughput at the site. The co-operation also involves studying construction of an integrated petrochemical complex and downstream marketing activities, according to Pertamina.
Hidayat said that the partners are likely to hold an equal share in the complex, which he estimated to involve an investment of$8 billion-$9 billion. Pertamina would be the offtaker of the refinery products and petrochemicals.
China Chemical Weekly: http://news.chemnet.com/en/detail-1403616.html
