Top Middle Eastern oil producing countries have expressed interest in participating in two proposed new oil refineries in Indonesia, the country's energy minister said on Sunday. Indonesia has received expressions of interest in the projects from Saudi Arabia, Kuwait, Iran and Iraq, Darwin Saleh told Reuters.
"We are going to build and open our doors to investors to build more refineries," Saleh said. "Gulf countries can contribute in two ways; with funds - it's a lucrative business to invest in an industrial complex that is not just a refinery - and they may contribute in crude for these refineries."
A former OPEC member, Indonesia is now a net importer of oil and its growing domestic fuel demand has made it into one of Asia's top oil products buyers.
The government said last year Kuwait's state oil company KPC would study building a new 300,000 barrels per day (bpd) refinery on Java island at a cost of up to $9 billion. Indonesia has indicated a willingness to offer tax concessions to stimulate foreign investment.