KARAWANG, Jawa Barat: Government will prioritize the condensate output of Cepu Block for petrochemical raw material industry, following Honam Petrochemical Corp investment plan in Tuban, East Java.
Minister of Industry M.S. Hidayat stated reconciliation between PT Pertamina (Persero) and PT Trans Pacific Petrochemical Indotama (TPPI) has been achieved so both company have the potential to be petrochemical major players.Regarding petrochemical future development, particularly petrochemical block in Tuban, he continued, government will compose policies that enable raw material supply from domestic.Condensate from Cepu Block, he added, is one of potential sources to provide new petrochemical investment demand in Tuban.New investment plan like Honam can be directed to obtain supplies of raw materials from Cepu.PT Tuban Petrochemical Industriess President Director Amir Sambodo stated Honam has expressed it seriousness to invest and cooperate with TPPI, Tuban Petrochemicals subsidiary.Moreover, he continued, the South Korean petrochemical producer not only wanted to invest on olefin production but also downstream plastic industry.However, Honam investment plan requires raw materials supply assurance from expected sources namely ExxonMobil and Pertamina in Cepu.Cepu produces up to 500 MMscfd gas and around 20,000 barrel condensate per day. The condensate and gas can be used for light olefin.Ministry of Industrys Directorate General of Manufacturing Industry Basis Panggah Susanto said at the moment, TPPI obtains some of its raw materials from Senipah. He hoped the company could get condensate supply from domestic supplier. (T05/wiw)
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