Pertamina Seeks New Partner to Speed Up GRR Project

By Editorial Team 28/07/2023
Pertamina's refinery
Summary

PT Kilang Pertamina Internasional (KPI) proposed an additional strategic partner to expedite the Tuban Grass Root Refinery (GRR) project to its business partner, Rosneft Singapore Pte Ltd.

KPI President Director Taufik Aditiyawarman said this proposal aligns with the impact of Western sanctions, which have started to affect the completion of the final investment decision (FID) for the Tuban GRR project.

The KPI board of directors submitted the proposal to Rosneft three months ago via video conference. "We have communicated the possibility of bringing in another partner for balance, as the Ukraine conflict has had implications on the project," Taufik said on Thursday.

Nevertheless, the completion of Tuban GRR FID is now rescheduled to the first quarter of 2025. "Currently, we are in the prequalification stage of the auction to obtain the market prices for engineering, procurement, and construction [EPC] purposes, and there are eight packages involved," Taufik explained.

Register now and get free access.

If you want to get free access to our Daily Insights and Weekly Digest, please click "Sign up" button below. If you already have an account, please login.

Sign up
Log in
What do subscribers receive?

As a subscriber, you'll receive daily insights, weekly business digests, and quarterly industrial reports.

What kind of pieces will i get?

In-depth reports on assumption and impact analysis, as well as update and trends mapping, written by our credible and experienced analysts.

And, there is something else…

Register now and get free access, click here to register. Feel free to contact us with any additional questions you have.