Pertamina to Cooperate with Russian SOE

Jakarta, InfoPublik –Indonesia’s  State Owned  Enterprises Minister and Energy and Mineral Resources Minister have given the green light to state owned energy company PT Pertamina to cooperate with Russian  state-owned oil company Rosneft in developing oil refinery in Tuban .

When they are officially appointed, Rosneft and Pertamina will start the development of New Grass Root Refinery in Tuban.

"Yesterday they (Rosneft) already met Indonesia State owned Enterprises Minister and Energy and Mineral Resources Minister. The two ministers supported the cooperation and hoped for broader cooperation than refinery development," said Pertamina’s VP for Corporate Communication Wianda Pusponegoro in Jakarta, Thursday (28/4).

Wianda explained Energy and Mineral Resources Minister also expected that the cooperation between Pertamina and Rosneft can support the development of Strategic Petroleum Reserve (SPR). SPR is very attractive for Pertamina because it could help increasing the capacity of refinery.

"Rosneft’s crude production capacity reaches 5.2 million barrels per day. That's enough to build an SPR. They have highcrude capacity," she said.

Meanwhile, said Wianda, Pertamina is still in the process of reading through Rosneft’s data, in order to synchronize it with Pertamina’s objectives in refinery development in Tuban. Pertamina sees the cooperation in the refinery development can go directly on stream.

"Pertamina will decide the appointment of its  new refinery project implementer this week," she said. (Translator: Sugiarti)