Saudi Aramco withdraws from oil refinery project in Indonesia
Saudi Arabian Oil Co., (Aramco) quit from Cilacap oil refinery project owned by Indonesia's energy firm PT Pertamina after a long discussion, said Pertamina Director Ignatius Tallulembang.
Saudi Aramco quit from Cilacap oil refinery project owned by energy firm PT Pertamina after a long discussion. (Photo by the company)Jakarta (VNA) - Saudi Arabian Oil Co., (Aramco) quit from Cilacap oil refinery project owned by Indonesia's energy firm PT Pertamina after a long discussion, said Pertamina Director Ignatius Tallulembang.
Initially, both producers aims to settle the deal this
year, but one of the largest global oil producers Aramco decided to pull out from
the project, he said.
The cooperation ended in April 2020 after being extended
at the end of December 2019, he said, adding that Pertamina is finding new
business partners while preparing for the next development process.
With total investment of 5 billion USD, the project is
expected to draw about 130,000 workers during the construction process, and
10,000 others while operating./.
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