MOSCOW (MRC) -- Malaysia's national oil and gas company Petronas has selected Axens as a technology provider for its refinery and petrochemicals integrated development (RAPID) project in Pengerang, Johor, reported Hydrocarbonprocessing.
RAPID is part of Petronas' Pengerang Integrated Complex (PIC) development, which includes six major associated facilities. Those are the Pengerang co-generation plant, re-gasification terminal 2, an air separation unit, the raw water supply project, the liquid bulk terminal as well as central and shared utilities and facilities.
Developed within a 6,242-acre site in Pengerang, Johor, PIC forms part of the Johor State’s Pengerang Integrated Petroleum Complex (PIPC), which is under Malaysia’s Economic Transformation Program (ETP) to establish new engines of growth for Malaysia; whilst meeting future energy requirements and strengthening Petronas’ position as a key player in the Asian chemicals market, focusing on differentiated and specialty chemicals.
RAPID is estimated to cost USD16 billion, while the associated facilities will involve an investment of about USD11 billion. PIC is poised for its refinery start-up by early 2019.
Axens was initially selected in October 2010 for a detailed feasibility study, after which their technologies were selected following an open bid in January 2012 on the basis of the best NPV (net present value), as well as proven long-term operating experiences supported by the technology and catalyst’s specific features; hence providing additional benefits to the project.
As MRC reported earlier, in February 2015, Muhibbah Engineering (M) Bhd ( Financial Dashboard) clinched a USD32 million (RM116 million) construction subcontract for the Petroliam Nasional Bhd's (Petronas) Refinery and Petrochemicals Integrated Development (Rapid) project in Pengerang, Johor.
Petronas, short for Petroliam Nasional Berhad, is a Malaysian oil and gas company wholly owned by the Government of Malaysia. The Group is engaged in a wide spectrum of petroleum activities, including upstream exploration and production of oil and gas to downstream oil refining; marketing and distribution of petroleum products; trading; gas processing and liquefaction; gas transmission pipeline network operations; marketing of liquefied natural gas; petrochemical manufacturing and marketing; shipping; automotive engineering; and property investment.
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