The Jakarta Post
Private oil and gas company PT Duta Firza will team up with Korea-based LG International to set up a petrochemical complex with a total investment of US$3 billion near the Tangguh gas field in West Papua.
On Wednesday, the two companies sealed the commitment through the signing of a heads of agreement (HoA) in Seoul, Korea, witnessed by Industry Minister MS Hidayat and Trade Minister Gita Wirjawan.
“The cooperation will cover pre-planning, pre-feasibility studies and the construction of the complex,” said Duta Firza chief executive officer Firlie Ganinduto after the signing as reported in a press statement sent to The Jakarta Post.
The pre-planning phase included securing gas supply from the Tangguh field, seeking financing for the project, looking for buyers for the petrochemical products and appointing contractors for the engineering, procurement and constructi...