KUALA LUMPUR: Qatar-based Gulf Petroleum Ltd hopes to commence the construction of the proposed integrated oil and gas complex in Perak by year-end.
In a statement yesterday, Gulf Petroleum said it had appointed a top international energy consultant to conduct the final feasibility study on the project after the tender and bidding process to select the consultant ended last week. The study would be completed within eight weeks.
"To date, our plans in Malaysia are still on track. If everything falls into place we should be able to commence construction by the end of this year," its director Nor Azmi Abdullah said.
The oil and gas complex comprises an oil refinery, a petrochemical project and storage facilities with an initial investment of about US$5 billion (RM16.5 billion) for the first phase of five years. It would be constructed on a 400-hectare site allocated to Gulf Petroleum from Perak state government.
Gulf Petroleum Ltd received a letter of approval by the Ministry of International Trade and Industry issued on April 25 to build the integrated oil and gas complex in Perak. The integrated complex would be Gulf Petroleum's regional hub for its activities in the Asia-Pacific region.
The target capacity of the proposed refinery is between 100,000 and 150,000 barrels per day for the first five years.
In April, the company's president Abdulaziz Hamad Al-Delaimi was quoted as saying that at least two national oil companies wholly owned by the Middle East governments would participate in the project along with other major oil and gas groups, prominent banking and insurance groups.
Gulf Petroleum's shareholders include members of the Qatar royal family, Qatar General Insurance & Reinsurance, conglomerate Al-Mana Group, National Petroleum Services and the banking group of Al-Sari.
Source (Edited) : The Edge
Gulf Petroleum appoints consultant
PETALING JAYA: Qatar’s Gulf Petroleum Ltd (WLL) has appointed a top international energy consultant to undertake a final feasibility study for its proposed integrated oil and gas complex in Malaysia, with an initial investment of about US$5bil (RM16bil).
It said yesterday the selection was made after the tender and bidding process that ended last week. The consultant was expected to complete the final feasibility study within eight weeks.
Gulf Petroleum obtained Malaysia’s regulatory approval in April for its proposed integrated oil and gas complex comprising an oil refinery, petrochemical project and storage facilities with an initial investments of about US$5bil for the first phase of five year.
The integrated complex would be Gulf Petroleum’s regional hub for its activities in the Asia Pacific region.
“As of to date, our plans in Malaysia are still on track. If everything falls into place, we should be able to commence construction by end of this year” said a director of Gulf Petroleum, Nor Azmi Abdullah.
Source : The Star
