Lavrov warns against partition of SyriaRussian Politics & Diplomacy September 23, 0:00
Lavrov calls to coordinate Russian, US military action in SyriaRussian Politics & Diplomacy September 22, 21:05
Lavrov blames Obama administration for souring Russia-US tiesRussian Politics & Diplomacy September 22, 20:41
Waging war on Korean Peninsula inadmissible, says LavrovRussian Politics & Diplomacy September 22, 20:36
Russian Northern Fleet completes drills in ArcticMilitary & Defense September 22, 18:01
OPEC and non-OPEC countries to continue talks on oil production cut dealBusiness & Economy September 22, 17:28
Russian pair figure skaters Kavaguti, Smirnov retire from sportSport September 22, 16:48
Record number of delegations register for St. Petersburg-hosted IPU AssemblyRussian Politics & Diplomacy September 22, 16:47
Astronauts to make quickest trip ever to ISS in DecemberScience & Space September 22, 16:27
VIENNA, November 29. /TASS/. The joint venture of Russia’s Rosneft and Indonesian Pertamina may start laying the foundation of Tuban refinery and petrochemical facility on the Java Island already at the turn of 2017 but the project is still at the bankability study phase, Vice President for Corporate Communication at Pertamina Wianda Pusponegoro told TASS on Tuesday.
"Now this process is still at a bankability study [phase] and afterwards we will see if we can start groundbreaking in late 2017 or in 2018," Pusponegoro said.
Total investments into this project will amount to $12-14 bln, she said. Pertamina holds 55% in the project and Rosneft’s stake is 45%, Pusponegoro added.
Pertamina expects to reach the production level of at least 30,000 barrels of oil equivalent per day in the North Chayvo joint project with Russia’s Rosneft in offshore Sakhalin.
"We need to have really good review on the future, what we want to do on those blocks. And especially we have a target that minimum we take home is around 30 thousand barrels of oil equivalent per day," Pusponegoro said.
Negotiations on the stake acquisition with Rosneft are still in progress, Pertamina vice president said. "We are still in the discussion with them [Rosneft - TASS]," she added.
The Chayvo Field North Tip license area is situated in the shallow portion of offshore Sakhalin. The oil and gas field is planned to reach the design oil production rate in 2017.
It was reported earlier the design capacity of Tuban facility’s primary distillation stage is planned at the level of 15 mln tonnes a year. The project contemplates construction of a high-capacity fuel oil catalytic cracker and a petrochemical facility.
Rosneft and Pertamina signed a master cooperation agreement on May 26, 2016.