Rosneft, Pertamina sign agreement on Indonesian refinery

Russian state oil major Rosneft and Indonesian oil and gas company Pertamina have signed an agreement on the construction of an oil refinery in Indonesia.

The companies have signed a framework agreement on cooperation, Rosneft said in a press release.

The companies have agreed to perform a feasibility study to finance the project to build the new Tuban refining and petrochemical complex in the eastern part of Java and form a joint venture to implement the project.

The $13 billion refinery will have a crude processing capacity of 300,000 barrels per day.

Read more: What Rosneft hopes to achieve in Indonesia

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