Azerbaijan’s state-run Socar is among several foreign firms eyeing a role in Indonesia’s Balikpapan refinery expansion project in East Kalimantan, according to a Pertamina official. The Indonesian state-run firm has formed a team to assess their suitability as a partner in the Balikpapan scheme. "Pertamina will keep at least a 51% stake in the Balikpapan refinery project and the rest can be held by the partner,” the official, who declined to be identified, told International Oil Daily.
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