July 18, 2008
Indonesia Mulls Cooperate With Kuwaiti Investors to Build Oil Refinery
Indonesia mulls cooperate with Kuwaiti investors to build oil refinery JAKARTA, July 17 (Xinhua) -- Indonesian state oil-and- gas company Pertamina Inc. has considered to join hand with Kuwaiti investors to build an oil refinery to boost the domestic oil supply, President Director of the company Ari H Soemarno said here Thursday.
Indonesia has long looked for new investment to rise domestic oil supply which has been decreased due to the aging of oil wells and lack of investment for new exploration.
Indonesia oil production has started increasing recently with the latest production capacity of more than 1 million barrel a day, which may lead the country to return to a net oil exporter again.
Indonesia has become a net oil importers since 2003.
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