Three Japanese investors have agreed to cooperate with Indonesia's PT Pertamina to invest US$6.5 billion on oil refinery and liquefied natural gas (LNG) projects in Indonesia, according to . Mitsui Oil Exploration Co. will team up with Pertamina to modify the Cilacap oil refinery in Central Java at a cost of US$1.9 billion expanding its processing capacity from 348,000 to 410,000 barrels of crude per day. Pertamina will also, in cooperation with Itochu Corp. (TSE:8001), expand the daily processing capacity of its oil refinery in Balikpapan from to 280,000 barrels and that of the Balongan refinery in Indramayu to 250,000 barrels at a cost of around US$3.2 billion, a Pertamina official said. Pertamina also plans to build an LNG plant in Senoro, Central Sulawesi at a cost of US$1.4 billion in cooperation with Mitsubishi Heavy Industries.
