MOSCOW, Aug 4 (PRIME) -- Russia and Indonesia have started building a U.S. $15 billion Tuban oil refinery on the Java Island, Indonesian ambassador Mohamad Wahid Supriyadi told PRIME on Friday.
“Speaking of the project, the memorandum of understanding have already been signed, and a technical meeting of Russia’s Rosneft with Indonesian company Pertamina was held. Russia won a tender for construction of the plant in the Tuban district. The combined amount of investment may reach $15 billion,” he said.
“The agreement is rather large and promising. But there are many technical issues here that need detailed discussion, that is why negotiations took so much time.”
The companies launched works on the project, and they plan to launch the refinery in 2023.
Supriyadi said Indonesia was interested in development of two oil fields in Russia, but did not elaborate.
Projected capacity of the Tuban refinery stands at 15 million tonnes of oil a year. The facility will have a large catalyst cracker unit of fuel oil and a petrochemical facility, and will also be able to receive VLCC tankers with deadweight of up to 300,000 tonnes.
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