28 November 2017
DETAILS
Rosneft and Pertamina completed
the establishment of the joint venture
for the development of Tuban grass root
refinery and petrochemical complex (TGRR)
in Tuban in the East Java province of Indonesia.
The Joint Venture Company (JV)
PT Pertamina Rosneft Pengolahan dan Petrokimia (Indonesia)
was established in accordance
with the Joint Venture Agreement (the ‘JVA’)
signed in October 2016.
The JVA envisages the following participants shares
in the joint venture:
Rosneft – 45%, Pertamina – 55%
and sets out the JV's governance principles.
Rosneft and Pertamina conducted the project feasibility study
and moved to basic engineering and design (BED) of TGRR.
The attractive market conditions of Indonesia
and the expected consumption growth
enabled the working group of Rosneft and Pertamina
to develop a competitive concept of
the new refinery and petrochemical complex.
The parties confirmed possibility of arranging project financing
after bankability study performed
with the international financial institutions.
* The planned refining capacity is 15 mmpta (300 kbpd)
and the targeted capacity of the petrochemical complex is
* over 1 mmtpa of ethylene and
* 1.3 mmtpa of aromatics.
The feedstock for TGRR will be
medium and heavy sulfur crude oil grades.
The crude oil terminal will be able
to accommodate VLCCs of up to 300 thousand tonnes.
TGRR is an important part of Rosneft strategy
targeting growth in Asia-Pacific market of refined products.
Administration for Information Policy
Rosneft Oil Company
Tel.: + 7 (499) 517-88-97
28 November 2017
WWW.CHEMWINFO.COM BY KHUN PHICHAI
