Indonesia taps brakes on refinery projects
JAKARTA, June 7, 2017 – In order to avoid project costs becoming “a burden,” some refinery upgrades and greenfield projects in Indonesia will be pushed back, Pertamina’s director of megaprojects and petrochemicals, Richmad Hardadi, said on Tuesday.
Phase one completion of the Balikpapan refinery upgrade project will be delayed by one year to 2020. Phase two to 2021. By that time, the greenfield Tuban refinery, a project carried out in a joint venture with Rosneft, was set to be completed. This has been pushed back to 2023-2024.
The finalisation of work at Cilacap is slated for 2023. While no fixed date could be given for the completion of the greenfield Bontang refinery, Pertamina in December 2016 said it was targeting 2023.