Rosneft and Pertamina have established a joint venture (JV) to build a grassroots refinery and petrochemical complex at Tuban, East Java, Indonesia.
The JV company, PT Pertamina Rosneft Pengolahan dan Petrokimia Indonesia, was established in accordance with a JV agreement signed in October 2016, Rosneft says. Pertamina owns a 55% stake in the JV and Rosneft owns the remaining 45%.
The project includes a refinery designed to process 15 million metric tons/year (MMt/y) of medium and heavy sulfur crude oil grades. The targeted capacities of the petchem complex are more than 1 MMt/y of ethylene and 1.3 MMt/y of aromatics, adds Rosneft.
Rosneft says that the JV will assist the company to expand its footprint in Indonesia’s energy market. The refinery will produce motor fuels for the growing local market that currently imports the bulk of its refined products. Indonesia also has a big deficit of petrochemical products and polymers such as polyethylene and polypropylene, according to Rosneft.
By Kartik Kohli
Source: Chemical Week
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