MOSCOW, October 11. /TASS/. The final investment decision (FID) on the refinery to be built by Russia’s Rosneft and Pertamina in the city of Tuban may be made in the second - fourth quarters of 2024, Indonesia’s Director-General of Oil and Gas, Ministry of Energy and Mineral Resources Tutuka Ariadji told reporters on the sidelines of the Russian Energy Week forum.

This is business "between Rosneft and Pertamina," the official said. "Next year there will be an FID. Maybe [in] Q2-4, there will be a decision between Rosneft and Pertamina," Ariadji said.

It was reported earlier that a decision on the project could be made in early 2023. Project investments are projected at $24 bln.

The joint venture PT Pertamina Rosneft Pengolahan dan Petrokimia was established under an agreement signed in October 2016. Rosneft holds a 45% stake in the JV and Pertamina - 55%. The design capacity for oil refining was reported to be up to 15 mln metric tons per year, with production of ethylene totaling over 1 mln metric tons annually and aromatics - 1.3 mln metric tons.

TASS is the information partner of the Russian Energy Week.