Rosneft and Pertamina's joint venture on Tuban dates back to 2016, with the partners formalising their partnership a year later. Rosneft owns a 45pc stake and Pertamina at 55pc in the proposed 300,000 b/d refinery and petrochemical project. The project is targeted for a start-up by the second half of 2025.
The petrochemical complex will have a design capacity of 792,000 t/yr of diethylene glycol, 565,000 t/yr of ethylene glycol, 1.413mn t/yr of paraxylene, 848,000 t/yr of polyethylene, 1.435mn t/yr of polypropylene and 794,000 t/yr of styrene monomer.