Pertamina to Develop Cilacap Refinery without Saudi Aramco

Wilda Asmarini;
Friday, May 29, 2020

Indonesia's PT Pertamina will develop its Cilacap refinery in Central Java "independently", the state energy company said on Friday, dropping a plan to boost capacity through a joint venture with Saudi Aramco.

The two companies have been in talks to upgrade the Cilacap refinery since 2016 and last year said that they would finalize a joint venture plan in the first quarter of 2020.

"Pertamina will continue to independently develop the Cilacap Refinery Development Master Plan, while we look for another strategic partner," Pertamina spokesman, Fajriyah Usman, said in a statement.

Usman confirmed that the planned joint venture with the Saudi oil giant had now been axed.

Saudi Arabian Oil Co. did not immediately respond to a request for comment.

The Cilacap Refinery Development Master Plan aims to increase Cilacap's refining capacity to 400,000 barrels per day from 348,000 bpd.

Pertamina had said last year that it will start the development of the Cilacap project with or without a partner to meet an operational target of 2025. 

(Reporting by Wilda Asmarini; writing by Fathin Ungku Editing by Ed Davies)

Categories: Indonesia Refinery

Related Stories

CIP, ACEN Partner Up for First Large-Scale Offshore Wind Farm in Philippines

Valeura Concludes Eight-Well Drilling Campaign in Gulf of Thailand

Velesto’s Jack-Up Rig Set for Drilling Job off Indonesia

Petronas, Inpex Secure Oil and Gas Exploration Rights off Indonesia

Turkey Discovers New Black Sea Gas Reserve

ADNOC’s XRG Partners Up with Petronas for Offshore Gas Block in Caspian Sea

Shell-Reliance-ONGC JV Complete India’s First Offshore Decom Project

The Future of Long-Idle Drillships: Cold-Stacked or Dead-Stacked?

China's ENN, Zhenhua Oil Ink LNG Supply Deals with ADNOC

India Stretches Bids Deadline for 13 Offshore Deep-Sea Mineral Blocks

Current News

OMV Exits Ghasha Gas Project off UAE with Lukoil Stake Sale

China's Sinopec Laucnhes $690M Hydrogen Venture Capital Funds

CIP, ACEN Partner Up for First Large-Scale Offshore Wind Farm in Philippines

Valeura Concludes Eight-Well Drilling Campaign in Gulf of Thailand

Three Dead in Chevron's Angolan Oil Patform Fire

BW Opal FPSO Vessel set for Work off Australia

Keyfield Ventures into Indonesia’s Oil and Gas Market with New Partner

Fire Contained at Vietnamese Oil Platform Undergoing Decommissioning (Video)

Velesto’s Jack-Up Rig Set for Drilling Job off Indonesia

Petronas, Inpex Secure Oil and Gas Exploration Rights off Indonesia

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com