Saudi Aramco Asia Co Ltd (SAAC) has signed an initial deal with Indonesia's state energy firm, PT Pertamina to mull building a refining and petrochemicals project in Indonesia, as per Reuters. Under the Memorandum of Understanding (MOU), Aramco and Pertamina will undertake a feasibility study first to jointly build a refinery and petrochemicals project in Tuban in East Java. Aramco also plans to set up a refinery in Indonesia to help raise its total global refining capacity to 8 mln bpd and seeks to balance its energy portfolio by increasing downstream investments.
20-Feb-12 
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