JAKARTA - President Director (Managing Director) of PT Pertamina (Persero) Simon Aloysius Mantiri revealed that his party is targeting the final investment decision (FID) of Rosneft in the Grass Root Refinery (GRR) or Tuban Refinery project to be completed in early December 2025.
Simon said, until now Pertamina is still partnering with this Russian oil and gas company.
"We are currently in the FID process, after that we will assess whether it is feasible for us to continue, or if there are other plans, but until now it is still in the process," Simon told the media crew when met at the Ministry of Energy and Mineral Resources Building, Monday, November 10.
Simon also said the latest news would be conveyed by Pertamina if the FID decision from Rosneft was submitted.
"The FID is likely we will see in early December, yes, we will update again," he continued.
Previously, PT Kilang Pertamina Internasional ensured that the investment value for the Tuban Grass Root Refinery (GRR) project would certainly increase.
KPI President Director, Taufik Adityawarman said the project on the spot was one of the factors causing the investment value of this giant project to swell.
"The projection (investment) will be more. It will definitely be affected (due to project delays," he told the media crew on the sidelines of the IPA Convex 2025 agenda quoted Wednesday, May 21.
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Taufik said, as a result, the project, which was originally estimated to cost 13.5 billion, would swell to 23 billion US dollars.
Nevertheless, Taufik ensured that the construction of this project would still cooperate with the Russian oil and gas company, Rosneft.
In fact, he continued, this project continues to be delayed because Russia is still undergoing sanctions from western countries due to attacks on Ukraine.
"Tuban masih sama Rosneft," imbuh dia.
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