Pertamina may seek another partner if Aramco deal falls through

Pertamina may seek another partner if Aramco deal falls through

PT Pertamina president director Nicke Widyawati. (ANTARA FOTO/Reno Esnir/foc/pri)

We have not yet reached an agreement with Aramco on developing the Cilacap refinery. We will look at the developments until the end of April. If no agreement is reached, we do not rule out the possibility of looking for another partner.
Jakarta (ANTARA) - State oil and gas company PT Pertamina may seek a new partner to develop an oil refinery in Cilacap District, Central Java if it fails to reach an agreement with Saudi Aramco by April-end.

"We have not yet reached an agreement with Aramco on developing the Cilacap refinery. We will look at the developments until the end of April (2020). If no agreement is reached, we do not rule out the possibility of looking for another partner," Pertamina president director Nicke Widyawati said on Friday in Jakarta.

Nicke said Pertamina will evaluate the schedule for the development of the Cilacap refinery, which is part of the national strategic program.

Pertamina will focus on continuing ongoing refinery projects, including those in Balikpapan, East Kalimantan, Tuban, East Java, and Balongan, West Java, as well as PT Trans Pacific Petrochemical Indotama, she stated.

"The four refineries are under construction, and we will focus on them," she added.

To develop two more projects, Pertamina will look at the response from its partners, she continued.

Earlier, State-Owned Enterprises Minister Erick Thohir had said negotiations between Saudi Aramco and Pertamina on the valuation of the Cilacap refinery must keep the state’s interests in mind.

The negotiations are normal, but they must not harm the state's interests, he remarked.

Erick had said he would study several things in connection with the negotiation on the valuation of the Cilacap refinery, which is one of three priority programs he has been intending to implement after assuming office as the State-Owned Enterprises Minister. (INE)


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