, pub-9591068673925608, DIRECT, f08c47fec0942fa0 Pertamina-Aramco Officially Split - MEDIA MONITORING OIL AND GAS -->

Pertamina-Aramco Officially Split

Pertamina is more focused on the construction or development of existing refineries. PT Pertamina (Persero) officially parted ways with Saudi Aramco in developing the Cilacap Refinery Development Master Plan (RDMP) mega-project. This decision was taken after Aramco sent a letter of resignation from the project.

Pertamina Megaprocessing and Petrochemicals Director Ignatius Tallulembang said Saudi Aramco had resigned from the project after an agreement to review the cooperation ended in April 2020.

Nicke Widyawati

Ignatius conveyed, Aramco through his leadership sent a Letter to Pertamina's Managing Director Nicke Widyawati who informed Pertamina to proceed with the project without the oil company from Saudi Arabia. This is because Aramco is still focused on other things.

"They asked Pertamina to continue, meaning Aramco could not join the Cilacap Refinery construction. So, for the Cilacap Refinery no longer plans to work with Aramco," Ignatius said in a virtual conference.

Ignatius explained, Pertamina also continued to develop the Cilacap Refinery development project as well as looking for new partners to develop the project.

"Pertamina is in the process of finding a new partner, the land has been dealt while looking for opportunities that exist," Ignatius said.

Pertamina-Aramco Split alias Ambyar

In addition, after the withdrawal of Saudi Aramco there were plans to accelerate building a bio refinery or green refinery in the Cilacap Refinery. Ignatius said, the possibility for a bio refinery could be built faster and could operate in 2022 for a small scale.

Through the Cilacap Refinery development project, the original refinery capacity of 348 thousand barrels will increase to 370 thousand barrels per day (BPD). In addition, there will also be an increase in gasoline (gasoline) production from 59 thousand BPD to 138 thousand BPD and diesel production from 82 thousand BPD to 137 thousand BPD. Officially parting with Aramco, Ignatius said, Pertamina is now looking for new partners while developing the Cilacap Refinery independently.

"Pertamina is currently in the process of finding a new partner while looking for opportunities that we can build first. Then, prepare a business scheme by learning from the case of the Saudi Aramco partnership or other further cooperation," he said.

Overseas Oil and Gas LLC (OOG)

Pertamina had also previously been left by a partner in building a refinery. The State-Owned Enterprises (BUMN) in the oil and gas sector were left by Overseas Oil and Gas LLC (OOG), an oil and gas company originating from the state of Oman in the construction of the Bontang Refinery. 

    Without OOG, Pertamina has been forced to delay the construction of the Bontang Refinery. Ignatius explained, Pertamina would focus more on the construction or development of existing refineries as well as work on projects that had already prepared physical activities.

The previous Bontang refinery was part of Pertamina's six megaprojects consisting of four existing refinery developments, namely RDMP and two new refineries, Tuban and Bontang Grass Root Refinery (GRR). Ignatius emphasized that, despite being expensive, the construction of Pertamina's refineries had a multiplier effect on employment and national economic development.

RDMP and GRR also provide opportunities to improve the quality of fuel products (BBM) that are more environmentally friendly in accordance with international regulations and standards so that in the future a healthier Indonesian ecosystem will be realized.

Of the six refinery projects that were previously expected to be completed by Pertamina in 2022, only two refinery projects will be completed. First, Balongan Refinery in Indramayu, West Java, the first and second phases. Second, the Bio-Refinery in the Cilacap refinery in Central Java. He explained, the two projects to date have shown enormous progress.

Nicke Widyawati

Pertamina's President Director Nicke Widyawati said the schedule for the Cilacap Refinery development project which is a national strategic program or PSN will be reviewed and reviewed by Pertamina. 

Erick Tohir

   Previously, SOE Minister Erick Tohir warned that Aramco's negotiations with Pertamina regarding the valuation of the Cilacap Refinery should not be detrimental to the state. He said, bargaining is a natural thing, but don't let the Aramco and Pertamina negotiations harm the country.

Republika, Page-4, Saturay, June 6, 2020

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