Director of Tri Wahana Universal (TWU) Rudi Tavinos said, although the mini refinery near the Banyu Uiip Field, the Cepu Block, had stopped operating, the company would continue to build refineries in other locations.
The plan, two refineries with a capacity of 50,000 BPD each are ready to be built by the company. He explained each refinery with a capacity of 50,000 BPD would have four refinery trains with a capacity of 12,500 BPD each.
Until now, his office is still conducting studies related to the location of suitable refineries. On the other hand, a study of the technical aspects was completed during the period of stopping the operation of the company's mini refinery with a total capacity of 18,000 BPD in Bojonegoro, East Java.
He explained, investment to build a refinery unit with a total capacity of 50,000 BPD is around the US $ 800 million or Rp10.4 trillion (Rp 13,000 per US $). Because the refinery will be more complex than a mini refinery located in Bojonegoro.
The refinery, he said, will produce products in the form of gasoline, diesel fuel, marine fuel oil (MFO) or residuals and liquefied petroleum gas (LPG). The type of crude oil that will be used is a crude cocktail that can come from the global market or crude oil sold by KKKS.
Rudi said, in addition to business aspects and technical studies, social and cultural factors were also noteworthy. Mini-refinery construction usually takes 24 months, but social and cultural problems actually require a longer completion time.
Tri Wahana is still reviewing the exact location and side of the elevation and must be close to the sea because a port will be connected to the refinery complex.
This is more complex because the products are gasoline, MFO residues, LPG. Obviously, the investment with the port is for sure, around the US $ 800 million.
In connection with the construction of the mini-refinery, he said, Tri Wahana will offer to its partners, namely the Saratoga group, which controls 77.5% of the company's shares.
In addition, it is still waiting for the government's commitment to providing crude oil prices at the mouth of the well as well as the origin of the supplies received from the Banyu Urip Field for mini refineries.
PT Pertamina Exploration and Production of Cepu (PEPC)
The government, he said, had given a decree related to the supply of 6,000 BPD by 2019 from the oil section of PT Pertamina Exploration and Production of Cepu (PEPC) for the Tri Wahana mini refinery located in Bojonegoro.
the ExxonMobil Cepu Limited (EMCL)
The 10,000 BPD supply shortfall is still unknown, it will be taken from the government, the PEPC section or the ExxonMobil Cepu Limited (EMCL) division as the Cepu Block operator. Likewise, related to the price at the wellhead that has not been obtained since the refinery returned to operation in August 2016.
In fact, in the Regulation of the Minister of Energy and Mineral Resources No. 22/2016 concerning the Implementation of Small Scale Oil Refinery Development, the price formula used for mini refineries is a special formula that eliminates transportation costs due to its location close to oil wells.
At present, it is accepting oil at the same price as the export handover point, which is using the Indonesian crude price (ICP) of Gagak Rimang. So we are waiting for prices in the well and an allocation of 10,000 BPD. The number already knows, and who does not know yet.
Bisnis Indonesia, Page-30, Thursday, Oct 13, 2016.
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