Pertamina and Rosneft partner on new refinery

JAKARTA, November 28, 2017 – Pertamina has inked a joint venture agreement with Russian giant Rosneft for the construction of a new USD 15-billion refinery in East Java’s Tuban, the Indonesian company revealed on Tuesday.

Pertamina will command a 55% controlling interest, while the Russian state-owned company will hold the remaining 45% stake in the venture, which will include a 300,000-bpd refinery and a petrochemicals plant.

Fuels generated at the refinery will comply with Euro-5 emissions standards. The complex will be able to produce an estimated 80,000 bpd of petrol, 99,000 bpd of diesel and 26,000 bpd of aviation fuel.

Construction on the development is scheduled to begin in 2020, with a tentative completion date set for 2024.

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