03 August 2012

Petroliam Nasional Berhad, or PETRONAS, a Malaysia based integrated oil and natural gas company, has launched refinery and petrochemical venture, the PETRONAS Refinery and Petrochemical Integrated Development, or RAPID, project in Southern Johor, Malaysia.

Held near RAPID's proposed project site in Pengerang, Johor. With a capacity to refine 300,000 barrels per day of imported crude oil, RAPID's proposed refinery will supply feedstock for the petrochemical complex. It will also produce a host of refined petroleum products, including gasoline and diesel that meet the E4 and E5 fuel specifications.

The petrochemical component of the project will allow PETRONAS to expand its products portfolio from commodity petrochemicals to premium differentiated and specialty chemicals, capitalizing on the growing demand for these value products in the Asia Pacific region. 

To support the development of RAPID, PETRONAS is also assessing the feasibility of developing a new liquefied natural gas (LNG) receiving and re-gasification terminal and a co-generation power plant. 

Like other PETRONAS' projects, RAPID will be developed and implemented according to stringent international regulatory standards, as well as Malaysia's Department of Environment (DOE) and Department of Occupational Safety and Health (DOSH) standards. It will also employ technologies that have been adopted in advanced countries with stringent environmental regulations. 

During its construction, the project is expected to require more than 40,000 contract-based workers. Upon completion, the project will offer about 4,000 new permanent employments for qualified Malaysians.

 

 

Published by MarketLine

Published on 01 June 2012