The Jakarta Post
President Joko “Jokowi” Widodo has shed some light on a pledged investment of Saudi Arabian Oil Co. (Aramco) in a refinery project in Cilacap, Central Java, during his visit to Saudi Arabia.
“One of the topics discussed was the cooperation between Aramco and state-owned oil and gas holding company Pertamina on the Cilacap refinery project,” Foreign Minister Retno LP Marsudi, who accompanied the President during the visit, said as quoted by kontan.co.id on Monday.
Retno accompanied Jokowi when meeting with Saudi Arabian Minister for Energy, Industry and Human Resources Affairs Khalid Al-Falih along with Presidential Chief of Staff Moeldoko and Indonesian Ambassador to Saudi Arabia Agus Maftuh Abegebriel.
During the meeting, Retno said, Jokowi discussed the valuation of existing refineries with ministers soon after his arrival from Jakarta in a visit that would be extended for the umrah (minor haj).
Previously, Aramco pledged to invest US$6 billion in the revitalization of refinery facilities in Cilacap, home to the largest refinery facilities in Indonesia. Pertamina and Aramco signed heads of agreement in November 2015 for the refinery development master plan project.
After the revitalization, production capacity is expected to increase to 400,000 barrels per day with a fuel product that meets Euro V requirements.
Retno said Saudi Arabia was also interested in investing in Indonesia's petrochemical industry, with Khalid Al-Falih to visit Indonesia to discuss cooperation between the two countries. (bbn)