Pertamina, Korean SK set up JV to build oil base plant

Jakarta (Antara News) - State-owned oil and gas company PT Pertamina and SK Corp have set up a joint venture company, Patra SK, to construct an oil base plant here in January next year, Pertamina president Ari Soemarno said.

He said construction of the plant is estimated to cost 200 mln usd.

"We plan to begin construction of the oil base plant in January next year
and expect to it to be completed in 2008," Soemarno told reporters.

However, he gave no details on each parties' stake in the joint venture firm.

He said Pertamina and SK are also in talks to upgrade capacity at Pertamina's Dumai refinery in the Sumatran province of Riau. The upgrade will boost the refinery's capacity to 170,000 barrels of oil per day from 120,000 bpd at present. (*)
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