PT Pertamina and a consortium of Korean companies signed a MoU to explore the business cooperation opportunities in Indonesia' oil and gas industry, specifically in the Refinery Development Master Plan of Dumai in Riau. (Photo: theinsiderstories.com) Jakarta (VNA) – Indonesian energy producer, PT Pertamina, and a consortium ofcompanies of the Republic of Korea (RoK) signed a memorandum of understanding(MoU) to explore business cooperation opportunities in Indonesia’ oil and gasindustry, specifically in the RefineryDevelopment Master Plan (RDMP) of Dumai in Riau.
The signingwas carried out online on May 20, witnessed by head of the InvestmentCoordinating Board Bahlil Lahadalia.
Thestate construction firm, PT Nindya Karya, also involved in the deal while theKorean consortium was represented by DH Global Holdings Co. Ltd.
The1.5 billion USD project is expected to increase domestic oil and fuelproduction capacity, reduce the reliance on oil imports and address the current accountdeficit in the future, said Lahadalia in an official statementreleased on May 21.
Thedeal is accordance with the Indonesian Government’s efforts to support theacceleration of the implementation of mega projects under the NationalStrategic Projects.
PertaminaDirector, Ignatius Tallulembang, said the third parties will conduct a studyon upgrading the Dumai Refinery, expressing his hope that there will be animportant milestone in December.
Pertamina aimedto double its capacity to 2 million barrels per day, produce environmentallyfriendly fuel products of the Euro5 standard and petrochemical products./.
VNA
