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Friday 27 Nov 2015 - 11:24 Makkah mean time-15-2-1437
(Reuters image)
Cilacap, Indonesia (IINA) - Saudi Aramco's CEO Amin Al-Nasser said on Thursday that his company is looking for further investment opportunities in Indonesia's downstream refining and petrochemicals industry. The Saudi oil giant signed a $5.5 billion project to upgrade Indonesia's largest refinery, Jakarta Globe reported.
Al-Nasser praised Indonesian President Joko Widodo's efforts to attract investment.
"Indonesia is an important country for Saudi Arabia, a rising global economy, and we would like to be a part of the growth of Indonesia", he said at the signing of the initial agreement to upgrade the 'Cilacap' refinery in Indonesia's Central Java province.
The project is expected to increase the refinery's crude processing capacity to 370,000 barrels per day (bpd) from 348,000 bpd at present.
It is noteworthy that Indonesia will rejoin the Organization of the Petroleum Exporting Countries (OPEC) as its 13th member nation next month.
AG/IINA
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