Continental Energy Corporation announced that it has established an Indonesian subsidiary, PT Kilang Kaltim Continental (KKC), under a foreign direct investment license received from BKPM. KKC's investment license permits it to build, own, and operate a crude oil refinery at the KIPI Maloy port and industrial park, a special economic zone located in the Kutai Timur Regency of East Kalimantan Province, Indonesia. The planned 24,000 barrels per day capacity refinery is being designed to be built in two phases, and is intended to produce diesel fuel, B30 biodiesel, LPG, naphtha, marine fuel oil, and residual fuel oil for local sale direct to industry, distributors, and consumers within the East Kalimantan Province. The company owns an 80% shareholding in KKC, and the company's 85% owned Indonesian subsidiary, PT Continental Hilir Indonesia, owns the remaining 20%.