News Code : 44543

Petrotahlil --Pertamina will upgrade its Cilacap refinery "independently” and without its joint venture partner Saudi Aramco, the Indonesian state-owned oil major said this week.

Aramco declined to comment when answering an enquiry from ICIS.

Pertamina has also begun searching for a new strategic partner for the project, it said.

Pertamina and Aramco signed a Memorandum of Understanding (MoU) in May 2016 to increase the capacity of Cilacap refinery.

The project, expected to take six years, made Aramco a shareholder in the Cilacap refinery.

Termed the Cilacap Refinery Development Master Plan (RDMP), the project aims to double the refinery’s capacity from 1m bbl/day to 2m bbl/day and meet the Indonesian government's target to stop the import of fuel by 2026, the firm said.

The Cilacap oil is refinery located on the island of Java, near Jakarta.

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