Meetings held on PIPC
KUALA LUMPUR, November 7, 2014 – The Johor Petroleum Development Corporation, a subsidiary of the Malaysia Petroleum Resources Corporation, held meetings on Friday with domestic and international companies planning to invest in Malaysia’s Pengerang Integrated Petroleum Complex. Company names have not been released.
The massive downstream project, one of the largest infrastructure undertakings in the country’s history, houses the $15.9-billion Refinery and Petrochemical Integrated Development project, or RAPID, and $10.9 billion worth of associated facilities. Following a year of delays, national oil company Petronas announced a final investment decision on RAPID in April 2014.
Petronas has awarded 11 contracts thus far for the mega-project, including a $1.3-billion contract to a consortium of the Chiyoda Corporation, the CTCI Corporation and three Malaysian firms for a residue fluid catalytic cracking project, and a $500-million engineering, procurement, construction and commissioning contract to international oilfield services firm Petrofac.