Kuwait Petroleum International Ltd. and South Korea’s SK Energy Co. (096770) agreed to develop a refinery in Indonesia that can process as much as 300,000 barrels a day of crude, Kuwait’s state-run KUNA news agency reported.
Officials with the two companies signed a memorandum of understanding on Aug. 29 to develop the facility in West Java, which will be designed to process Kuwaiti oil, KUNA said on its website Sept. 5, citing a statement by Kuwait Petroleum.
PT Pertamina, Indonesia’s state-owned oil company, will also be a partner in the project, KUNA reported.
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