PT Pertamina Rosneft Pengolahan dan Petrokimia joint venture was established according to the agreement signed in October 2016. Rosneft owns a 45% stake, Pertamina - 55%.
The favourable market environment and the consumption growth prospects in Indonesia allowed the joint working group of Rosneft and Pertamina to develop a competitive conception of refinery/petrochemical complex. The plant is expected to become one of the most high-tech in the world (Nelson’s complexity index 13.1). Design capacity of primary processing is planned at the level of up to 15 mmta, of the petrochemical complex - more than 1 mmta for ethylene and 1.3 mmta for aromatic hydrocarbons.
The project will receive the full support of the Indonesian authorities, both in terms of the necessary benefits and the provision of the infrastructure. Commissioning of the refinery/petrochemical complex is planned for the next 5 years. Due to the implementation of the project, a large new petrochemical cluster in the region of the city of Tuban can be created in the future.