Thailand’s PTT Global Chemical said it was in talks with Indonesia’s Pertamina and Saudi Aramco to raise naphtha capacity at Pertamina’s Balongan refinery to use as feedstock for a planned petrochemical complex in Indonesia.

PTT Global has joined with Pertamina to build a 1.5 million tonne olefins cracker at Balongan City and the project required 2.25 million tonnes of naphtha as a feedstock, Thitipong Jurapornsiridee, vice-president for corporate finance, told investors during an earnings presentation.

Pertamina has selected Aramco to upgrade the Balongan refinery to produce more refined oil products and the refinery could be integrated with the petrochemical complex, Thitipong said.

The Indonesian national oil firm is expected to make a final investment decision on the petrochemical complex in the second quarter of 2017 and it could start its commercial run in 2022, Thitipong said.

The project has been delayed as Pertamina and Aramco need to study the expansion of refinery capacity before concluding a deal on the petrochemical project with the Thai company.

PTT Global, petrochemical flagship of state oil and gas company PTT, is one of the world’s top 10 ethylene makers.

Parent PTT has joined with Aramco to develop a refinery and petrochemical complex in Vietnam.

PTT has no plan to sell stakes in its oil refineries over the next few years after listing its 36-per cent owned Star Petroleum Refining Co (SPRC) in late 2015, a senior executive said.