Azerbaijan mulls investment in Indonesian oil refinery

Refinery to be located in the city of Batam.

Azerbaijan is expected to build a US$4.8 billion oil refinery through its state-owned oil and gas company State Oil Company of Azerbaijan Republic. The oil refinery will be built in a joint venture with Indonesia's OSO Group.

It will be designed with a production capacity of about 600,000 barrels per day. A final decision to build is expected but Azerbaijan Ambassador to Indonesia Tamerlan said no final decision has been taken.

Most of the funding for the project is expected to be provided by Azerbaijan, and the refinery is expected to be completed in 2017.