MOSCOW (MRC) -- Indonesian state energy company Pertamina expects to sign a JV agreement with Russian oil major Rosneft for the Tuban oil refinery development project, as per Hydrocarbonprocessing.
The official, who declined to be named, because he was not authorized to speak to the media, said the venture agreement was expected to be signed on Monday and would include an agreement on two producing oil and gas blocks in Russia.
Pertamina also expects to form a JV with Saudi Aramco for the Cilacap refinery upgrade project in December, the official said. A decision on whether to go ahead with Aramco on the Balongan and Dumai refinery upgrades will be made in the coming months, the official said.
As MRC informed earlier, Russia's Rosneft has signed a contract to supply 96 MMt of crude oil to PV Oil, an affiliate of state oil and gas PetroVietnam, starting next year. The contract, signed on the sidelines of an international economic forum in Russia's St Petersburg, will last between 2017 and 2040. The volume to be supplied by the Russian firm is equivalent to nearly six years of Vietnam's crude oil production, which totalled 16.7 MMt in 2015, based on Vietnam's government data.
Rosneft became Russia's largest publicly traded oil company in March 2013 after the USD55 billion takeover of TNK-BP, which was Russia’s third-largest oil producer at the time.
Pertamina is an Indonesian state-owned oil and natural gas corporation based in Jakarta. It was created in August 1968 by the merger of Pertamin (established 1961) and Permina (established 1957). Pertamina is the world's largest producer and exporter of liquefied natural gas (LNG).
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