Khalfan Al-Riyami, Chairman of the Board of Directors of Overseas Seas for Oil and Gas Services Oman or OG, stated that the company is looking for new partners to develop a new refinery valued at $ 15 billion in Pontang, East Kalimantan, Indonesia.
The cost of the project, which includes a refinery and petrochemical plants, is $ 15 billion, and the company aims to make a decision on the source of project financing within five, according to Reuters. Months, as the project is scheduled to start between 2025 and 2026.
Al-Riyami stressed that the company is currently in discussions with the Japanese Cosmo Oil International, a unit of Cosmo Energy Holding, while looking for more investors because it is a huge project.
OG currently controls ninety percent of the project, while Indonesian state energy company Pertamina controls ten percent.
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