INDONESIA AS NEW EMERGING MARKET

Tuesday, April 25, 2006

INDONESIA PLAN TO BUILD ANOTHER OIL REFINERY

PT Pertamina, State-owned oil company and Saudi Aramco, a Saudi Arabian oil company, will cooperate in building a refinery in Indonesia.

According to Pertamina's Managing Director, Ari Sumarsono, in addition to Saudi Aramco, several other Middle Eastern countries are interested in investing in Indonesia.

Earlier, Ari explained that the refinery to be built will have a capacity of 250,000 barrels per day. Construction will be prioritized for the Tuban Refinery, East Java.

Pertamina's Vice Managing Director, Iin Arifin, is currently visiting several Middle Eastern countries such as Saudi Arabia, Kuwait, Dubai, and Qatar, to look for cooperation opportunities in building refineries in Indonesia.

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