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2017-12-04 22:45:00

ROSNEFT & PETRAMINA FOR INDONESIA

РОСНЕФТЬ И PERTAMINA ДЛЯ ИНДОНЕЗИИ

ROSNEFT - Rosneft and Indonesian state-owned oil and gas company Pertamina completed the establishment of the joint venture for the development of Tuban grass root refinery and petrochemical complex (TGRR) in Tuban in the East Java province of Indonesia.

The Joint Venture Company (JV) PT Pertamina Rosneft Pengolahan dan Petrokimia (Indonesia) was established in accordance with the Joint Venture Agreement (the 'JVA') signed in October 2016. The JVA envisages the following participants shares in the joint venture: Rosneft – 45%, Pertamina – 55% and sets out the JV's governance principles.

Rosneft and Pertamina conducted the project feasibility study and moved to basic engineering and design (BED) of TGRR. The attractive market conditions of Indonesia and the expected consumption growth enabled the working group of Rosneft and Pertamina to develop a competitive concept of the new refinery and petrochemical complex. The parties confirmed possibility of arranging project financing after bankability study performed with the international financial institutions.

The planned refining capacity is 15 mmpta (300 kbpd) and the targeted capacity of the petrochemical complex is over 1 mmtpa of ethylene and 1.3 mmtpa of aromatics. The feedstock for TGRR will be medium and heavy sulfur crude oil grades. The crude oil terminal will be able to accommodate VLCCs of up to 300 thousand tonnes.

TGRR is an important part of Rosneft strategy targeting growth in Asia-Pacific market of refined products.

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Earlier:

 INDONESIA NEED SAUDI'S LPG
2017, November, 1, 13:20:00

INDONESIA NEED SAUDI'S LPG

Indonesia plans to increase LPG imports from Saudi Arabia and the UAE in a bid to meet rising domestic demand, Energy and Mines Ministry spokesman Dadan Kusdiana said

 

 INDONESIAN OIL UP 12%
2017, August, 17, 15:10:00

INDONESIAN OIL UP 12%

Indonesia's state-owned Pertamina has produced 343,000 b/d of crude oil in the first-half of 2017, up 12% year on year, upstream director Syamsu Alam said late Wednesday. "I think the crude production this year can meet our 2017 target of 354,000 b/d. But gas production may be ... lower compared with the target of 2.08 Bcf/d, due to lower demand and some gas fields [not being able to] produce," he said.

 

 EXXON LEAVES INDONESIA
2017, July, 21, 08:45:00

EXXON LEAVES INDONESIA

ExxonMobil Corp. has decided to walk away from development of the East Natuna natural gas permit in Indonesia saying it no longer wishes to continue discussions or activity in the block.

 

 NIGERIAN OIL TO INDONESIA
2017, June, 1, 19:05:00

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 SOUTH CHINA SEA SOVEREIGNTY
2017, April, 6, 18:45:00

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China claims almost all of a large stretch of sea between Taiwan, Malaysia, Indonesia, the Philippines, Brunei, Vietnam and Japan. The trouble is, between them, these seven other states all do too.

 

 INDONESIA NEEDS $80 BLN INVESTMENTS
2017, February, 10, 18:30:00

INDONESIA NEEDS $80 BLN INVESTMENTS

Indonesia needs to invest $70 billion to $80 billion in gas infrastructure through 2030 to avoid a potential gas shortage, as domestic consumption growth outpaces supply, state-owned energy business Pertamina said Tuesday.

 

 IRAN - INDONESIA AGREEMENT
2016, December, 15, 18:35:00

IRAN - INDONESIA AGREEMENT

Oil, gas and petrochemistry are major topics of economic discussions between Iranian and Indonesian officials during the Indonesian president visit to Iran.

Tags: РОСНЕФТЬ, PERTAMINA, ИНДОНЕЗИЯ, ROSNEFT, INDONESIA

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