KUWAIT-BASED GULF PETROLEUM TO SET UP INTEGRATED OIL, GAS COMPLEX IN MALAYSIA

SEREMBAN, MALAYSIA, March 12 (NNN-BERNAMA) — A Qatari consortium led by Kuwait-based Gulf Petroleum Ltd has selected Port Dickson in the central Malaysian state of Negri Sembilan to set up a 17 billion Ringgit (about 5.0 billion USD) integrated oil and gas complex.

Nor Azmi Abdulla, the managing director of the Malaysian company incorporated to undertake the project, Gulf Petroleum (M) Sendirian Berhad (GPLM), said in this state capital Thursday that construction of the complex would begin after the consortium had finalised talks with shareholders in May.

“From the proposed 10 sites, we shortlisted (the northern state of) Perak and Port Dickson, which was selected because of its heritage in the oil and gas industry and because major players such as Exxon Mobil, Shell and (Malaysian national oil company) Petronas have their refineries there,” he said at a signing ceremony among consortium members on the project.

Nor Azmi said the complex, which would include a refinery, petrochemical plant and storage facilities, would be able to process about 150,000 barrels of oil per day.

Also present were Negeri Sembilan Chief Minister Mohamad Hasan, members of the consortium and partners in the project.

Meanwhile, Gulf Petroleum said in a statement that the complex would have the advantages of access to the main route of oil tankers through the Straits of Melaka between the Middle East and East Asia.

It said the complex was intended to be GPLM’s regional hub for its activities in the Asia-Pacific region.

“GPLM has secured crude oil supply among consortium members and has finalised initial agreements on products off-take arrangements with several countries within Asean (Association of South East Asian Nations) and in the Asia-Pacific,” it said. — NNN-BERNAMA

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