Aramco, Pertamina ink $5.5-bln upgrade
Indonesia Saudi Aramco and Pertamina will jointly invest in a $5.5-billion upgrade to Indonesia’s largest refinery, the national oil companies revealed on Tuesday.
The two companies will undertake a revamp of the Cilacap refinery, increasing its capacity from 348,000 barrels of oil per day (bopd) to 370,000 bopd. The project will also add a new hydro cracker, along with units to expand the plant’s output of paraxylene and polypropylene.
Indonesian President Joko Widodo has initiated an overhaul of his country’s oil and gas industry after a series of scandals.
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