Malaysia’s state oil firm Petroliam Nasional Bhd (Petronas) and Saudi Aramco are expected to sign an agreement to collaborate in Malaysia’s Refinery and Petrochemical Integrated Development (RAPID) project, two industry sources said, according to Reuters.
The signing is expected to take place late February during a visit by Saudi Arabia’s King Salman to Malaysia, Rigzone informed citing one of the sources. Neither of them, however, had any firm details on the particulars of the agreement.
Saudi Aramco declined to comment and a Petronas’ spokesperson said the company could not “offer any comment at this point in time.”
The RAPID project is designed to process 300,000b/d of crude oil and produce 7.7m tons/y of petrochemicals. The facility is planned as part of Petronas’ Pengerang Integrated Complex that will include RAPID and oil storage facilities.
Petronas had said in January that RAPID is on track for start-up in 2019, and that its development had reached the 54% progress mark to date.