The refinery is in Eastern Java.Getty Images / Fotobank
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.
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