June 07, 2020 | 18:47 (GMT+7)
Saudi Aramco withdraws from oil refinery project in Indonesia
Saudi Arabian Oil Co., (Aramco) quit from Cilacap oil refinery project owned by Indonesia's energy firm PT Pertamina after a long discussion, said Pertamina Director Ignatius Tallulembang.
Initially, both producers aim to settle the deal this year, but one of the largest global oil producers Aramco decided to pull out from the project, he said.
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Staff of Saudi Arabian Oil Co (Photo for illustration) |
The cooperation ended in April 2020 after being extended at the end of December 2019, he said, adding that Pertamina is finding new business partners while preparing for the next development process.
With total investment of 5 billion USD, the project is expected to draw about 130,000 workers during the construction process, and 10,000 others while operating.
Source: VNA