“We will also look at other areas, such as Kerteh and Gebeng, to expand further.”
DATUK MD ARIF MAHMOOD, Petronas executive vice-president and chief executive officer of downstream operations
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) expects the Pengerang Integrated Complex (PIC) project to be completed on time and under budget.
Petronas executive vice-president and chief executive officer of downstream operations Datuk Md Arif Mahmood said a final sequencing exercise was being carried out at the facility.
The PIC project is now 93 per cent completed.
“We are busy with our commissioning phase and have moved our personnel down south as some of the facilities are operational.
“We are also getting our crude to come in within the next quarter, just in time before our startup in January next year,” he said at the Asia Petrochemical Industry Conference 2018 yesterday.
Arif said Petronas would be spending less than what was planned and that the joint ven- ture with Saudi Aramco had helped.
In March, Petronas and Aramco formed two joint ventures for the Refinery and Petrochemical Integrated Development in PIC.
With the US$7 billion (RM28 billion) boost, PIC is now the fourth largest downstream joint venture in Southeast Asia.
Arif declined to reveal how much Petronas has saved.
He also said the project was not facing any financial issues.
“We have a team that is looking into what we will be doing in the next phase, such as potential partners, products and new markets, which we will announce in due time.
“We will now focus on PIC and will be looking at adding value further downstream.
“We will also look at other areas, such as Kerteh and Gebeng, to expand further.”