Rosneft and Pertamina develop refining and petrochemical cooperation

摘要

Rosneft, a Russian oil company and Pertamina have signed, in Jakarta (Indonesia), a number of documents reflecting a concrete cooperation between the companies. Rosneft and Pertamina signed a GRR Tuban JV Agreement (JVA) that serves as an underlying agreement of creation of a Joint Venture Company (JVC) that would implement the project for the construction of the Tuban refining and petrochemical complex llocated in the eastern part of Java (Indonesia). The JVA specifies the allocation of equity stakes between JV participants (Rosneft - 45%, Pertamina - 55%, respectively), JV management and governance, feedstock, marketing dan offtake, funding principles, HR, standard clauses and further steps for implementation. The parties are currently developing a bankable feasibility study (BFS) of the project whilst the final investment decision (FID) on the project will be made upon the results of the BFS, basic engineering design (BED) and front end engineering design (FEED).