PETRONAS, Aramco launch refinery and petrochemical joint venture identity in Malaysia
PETRONAS and Saudi Aramco had earlier in March 2018 concluded the Share Purchase Agreement for equal ownership and participation in the operations of the refinery, cracker and selected petrochemical facilities in the PIC.
To mark the occasion, a ceremony was held at PIC which also saw the unveiling of PRefChem’s logo. Present were Tan Sri Wan Zulkiflee Wan Ariffin, President & Group Chief Executive Officer of PETRONAS; Amin H Nasser, President & Chief Executive Officer of Saudi Aramco; Datuk Md Arif Mahmood, Executive Vice President Downstream of PETRONAS, as well as Dr Colin Wong Hee
Speaking at the event, Tan Sri Wan Zulkiflee said: “This integrated partnership marks a visionary move by two professionally-run national oil companies where both are able to leverage on each other’s strengths and share technical capabilities as well as experiences for mutual benefit. I am proud that we are amongst the pioneer of national oil companies partnering with one another to ensure better positioning for both organizations in an increasingly competitive market.”
“Most importantly, this partnership was built on a shared vision and shared values that align a number of priorities for both parties including – upholding the “
Amin Nasser stated, “Today marks an important milestone for this
At the event, PRefChem also celebrated a major milestone with the mechanical completion of Package 2 comprising the Crude Distillation Unit (CDU). The mechanical completion certificate was presented to Sun Lili, President of Sinopec Engineering, by Datuk Md Arif Mahmood, witnessed by Tan Sri Wan Zulkiflee and Nasser.
Commenting on the company’s visual identity,
The refinery complex and cracker is now 96.54 percent complete while the petrochemical facilities have achieved 84.8 percent completion.
Apart from the refinery, cracker and the petrochemical facilities, PIC also includes the development of associated facilities, namely a co-generation plant, an LNG re-gasification terminal, a raw water supply plant, a deep-water terminal, an air separation unit, as well as centralized and shared utility facilities.
1* Subject to approval by The Companies Commission of Malaysia for the change of name from PRPC RC Sdn Bhd to Pengerang Refining Company Sdn Bhd.
*2 Subject to approval by The Companies Commission of Malaysia for the change of name from PRPC Polymers Sdn Bhd to Pengerang Petrochemical Company Sdn Bhd.
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