medcom.id, Jakarta: PT Pertamina and Russian state-owned oil and gas company, Rosneft, officially signed the framework agreement on the construction of Grass Root Refinery (GRR) in Tuban, East Java.
"We opened tender to find a partner for the development of new refinery in Tuban. In the selection process, Rosneft showed superiority," said Pertamina President Director Dwi Soetjipto after the signing ceremony at the Pertamina headquarters, Jakarta, Thursday (5/26/2016).
Dwi underlined Pertamina conducted the selection process according to good corporate governance. He mentioned that Rosneft, as the largest oil and gas company in the world, has vast experience in constructing and developing a refinery.
"OJSC Rosneft Oil Company has shown its commitment to support Pertamina and Indonesia," he added.
Meanwhile, Pertamina processing director Rachmad Hardadi explained Rosneft offered sharing of knowledge to accelerate the development of Tuban refinery, as well as the exclusive right to participate in Russia's upstream sector.
Rosneft had four competitors in the selection process: Saudi Aramco, Kuwait Petroleum Inc, Sinopec as well as the consortium of Hail Oil Thailand and PTT GC Thailand.
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