Indonesia’s state energy company PT Pertamina and Russia’s Rosneft have signed a cooperation agreement to construct a new oil refinery at Tuban, East Java. The two companies may invest $12 billion to $13 billion in the refinery project, which includes a petrochemical unit. The Tuban refinery is scheduled to be completed by the end of 2021. As part of the deal, Rosneft has offered to share proprietary data and exclusive rights to assess partnership opportunities in upstream oil and gas assets in Russia.
Japan-based Marubeni Corporation has entered into a memorandum of understanding (MoU) with Korea Midland Power, Samtan Company Limited and PT Indika Energi Internasional to jointly develop the 1,000 MW Cirebon-3 coal-fired power plant in Cirebon, West Java. The project will be built on the site of the existing 660 MW power plant, where a 1,000 MW ultra-supercritical project (Cirebon-2 coal-fired power plant) is being developed by PT Cirebon Energi Prasarana and scheduled for 2020. The Cirebon-3 plant is expected to be completed by 2021. The Indonesian government has set a target to provide an additional 35 GW of power capacity by 2019.