New US$5.65bn oil & gas hub for Gulf Petroleum in Malaysia
The Malaysian subsidiary of Qatar’s Gulf Petroleum (GPLM) has teamed up with a consortium of companies from China, Hong Kong and India to develop a RM17 billion (US$5.65 billion) integrated oil and gas complex near Port Dickson, about 90km south of Kuala Lumpur in Negeri Sembilan state.
Here’s a breakdown of the consortium members and roles: Indian Marmagoa Steel Ltd and Rukmani Finance Pte Ltd have teamed up with local (Malaysian) partner Extrarich Marine Sdn Bhd to undertake financing, construction and supply of steel to the site’s storage facility; Chinese telecommunications equipment supplier Huawei Technologies will cover all IT-related elements; and a company from Hong Kong called Oriental Air Energy Investment Corp Ltd will take care of power supply requirements with its patented ‘green air-powered technology’.
GPLM’s managing director Nor Azmi Abdullah has promised even more partnerships in the project, saying official proposals had arrived from banks, government-linked companies and other oil and gas developers from 35 different countries.
It’s hoped construction on the 607.5 hectare project will begin by Q2 next year, and be finished by 2015. Originally intended to be Gulf Petroleum’s Asia-Pacific regional hub, it will comprise a refinery, petrochemical plant and storage facility, capable of producing over 150,000 barrels of oil a day.
source & article: Business Times
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