PT Patra SK

Refinery construction project in Dumai LBO Group III was completed on 25 March 2008 or more two months faster than originally planned which was originally expected to be completed within 18 months.

The plant, which the investment fund of U.S. $ 215 million, has produced Lube Oil Group III of 3,000 Metric Tons have been sent to Jakarta and 31,000 metric tons are exported to Korea, Europe and America. This refinery is projected to generate revenue of USD 400 million per year. With IRR of 23% is expected to reach the BEP in the next 4 years. 

PT Patra SK Joint Venture Company is the result of strategic cooperation PT Pertamina (Persero) and SK Energy. Further Joint Venture was formed by Patra Niaga which is a subsidiary of PT Pertamina (Persero) and SKEI which is a subsidiary of SK Energy. 

PT Patra SK role is to carry out the construction of refineries, carry out the operation of the refinery and marketing of its products. Share composition is 65% and 35% Patra Niaga SKEI. Strategic partnership was initiated through an MOU between Pertamina and SK Energy Joint Venture Agreement signed on 23 April 2006. 

Through this agreement both parties can increase the value-added products utilizing byproduct Unconverted Oil (UCO) of Pertamina UP II became the raw material of high quality synthetic lubricants. In addition, this cooperation can also strengthen the market position of Pertamina lubricants in the country and expand opportunities for Asian regional market. 

SK Energy currently produces 21,000 barrels of oil per day basis on the first and second crop Complex LBO in Ulsan, Korea. With the additional production at the new LBO plant, SK Energy will strengthen its leadership in market leading lubricant base oil of high quality. 

SK Energy initially made inroads into the market higher quality lubricant base oil in 1995 by completing the first LBO plant in Korea. The company now exports its base oil products to more than 200 companies in 50 countries, including major international oil companies.