Jakarta: Indonesian firm OSO Group will construct a $4.8bn oil refinery in a joint venture with the State Oil Company of the Azerbaijani Republic (SOCAR). The refinery will be able to process 600,000 bpd when it launches in 2017 in a free trade zone on Batam island.
"We are going to refine all the group oil from Azerbaijan. The purpose is to trade or sell the processed oil to Indonesia or any other Asia-Pacific country," Mariano Asril, ceo of the OSO Group, told Reuters. [18/10/12]