Indonesia: Russian Investment Rosneft and Pertamina Sign Framework Agreement

Editor: Alexander Stark

Rosneft and Pertamina have agreed to perform a bankable feasibility study to finance the project of construction of the new refining and petrochemical complex Tuban in the eastern part of Jawa, Indonesia and establish a joint venture for the project implementation.

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Rosneft seeks to break Opec dominance in South East Asia.
Rosneft seeks to break Opec dominance in South East Asia.
(Picture: Picture: industrieblick - Fotolia)

Sochi/Russia – According to Rosneft, the final investment decision will be taken upon the results of the feasibility study, basic engineering design (BED) and front-end engineering design (Feed).

The new refinery will have annual capacity of up to 24 million tonnes (480,000 barrels per day).

Rosneft and Pertamina could invest $ 8 billion in the refinery, RIA news agency reported on Thursday, citing Indonesia's Energy Ministry. Putin has estimated possible investments in the refinery at $ 13 billion, Russian news agencies reported last week.

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