TEHRAN, Aug. 22 (ISNA)-Indonesian State Oil Company Pertamina will start to construct a joint oil refinery with Iran by late 2008 in its Benten province.
Pertamina’s president director Ari Sumarno holding talks with Iran’s deputy oil minister Mohammad Reza Nematzadeh in the Indonesian capital of Jakarta said initial studies on the project will be completed by the end of October.
The refinery able to process 300 thousand oil barrels per day is expected to cost over 6 billion dollars.
According to Indonesian oil officials the refinery is to be built as soon as initial surveys are ended.
Iran and Libya are to provide the refinery with crude oil said to be run in 2010 or 2011.