State-owned PT Pertamina came up with the Refinery Development Master Plan (RDMP ) in 2014. From then progress came slow, but may now have a ray of hope. PT Pertamina (Persero) has signed the Engineering, Procurement and Construction (EPC) contract for the development of the Balikpapan Refinery (as part of the RDMP) on December 10, 2018. The consortium formed for this development is comprised of SK Engineering & Construction Co.Ltd (leader), Hyundai Engineering Co.Ltd., PT. Rekayasa Industri, and PT PP (Persero) Tbk.

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