Tuban Refinery Likely to Meet its New Fate Early Next Year

By Editorial Team 23/11/2023
Kilang tuban
Summary

PT Kilang Pertamina Internasional (KPI) is set to release the final investment decision (FID) for the Tuban grassroots refinery in March 2024. This FID will determine the fate of the Tuban Refinery megaproject, valued at Rp 238.25 trillion. "God willing, in March 2024, we will be able to secure the FID. We hope this will be supported by competent refinery infrastructure and land access," KPI President Director Taufik Adityawarman said on Nov 22.

The Tuban GRR Refinery is expected to produce up to 300,000 barrels of oil per day. To support this mission, Taufik mentioned that KPI is preparing the final approval of several supporting infrastructure tender packages with an engineering procurement construction (EPC) funding concept. KPI is also finalizing advisor approval with shareholders, including Rosneft Singapore Ltd.

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