Rosneft, Pertamina Sign Deal With Option for New Indonesia Plant
- Cooperation pact includes plan to build oil refinery at Tuban
- Pertamina to get opportunity to invest in Russia energy assets
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PT Pertamina, Indonesia’s state energy company, and Russia’s Rosneft OAO signed a cooperation agreement that includes a plan to build a new oil refinery in the Southeast Asian nation, the companies said Thursday.
Pertamina, which hasn’t built a new refinery since 1997, will be the majority shareholder in the facility at Tuban, East Java, it said earlier this month. The two companies may invest $12 billion to $13 billion in the refinery project which includes a petrochemical unit, Dwi Soetjipto, president director of Pertamina, told a press conference after signing the accord.