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(plastemart) -- Saudi Aramco Asia Company Limited
(SAAC), a subsidiary of Saudi Aramco, and PT Pertamina (Persero) signed a
Memorandum of Understanding to jointly evaluate the economic feasibility of
building an integrated refining and petrochemical project in Tuban in East Java,
in the Republic of Indonesia.
A project team will work on the next phase
of the project, which will consist of a joint scoping study that will include
market research, configuration studies and economic analysis. The proposed
refinery and petrochemicals project will be designed to process 300,000 bpd of
crude oil, much of which will be supplied by Saudi Aramco following a long-term
contract.
The project will produce high-quality refined petroleum and
petrochemicals products to meet rising demand in Indonesia and elsewhere in
Southeast Asia. The project represents an opportunity for Saudi Aramco to
partner with Pertamina, Indonesia’s state oil and gas company, and to capitalize
on investment opportunities in Indonesia’s growing downstream industry.
Additionally, it extends the close cooperation between Saudi Aramco and
Pertamina and increases prospects for industrialization and economic
diversification in Indonesia.
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