Gulf Petroleum plans $5bn oil and gas complex

19 February 2008 09:08  [Source: ICIS news]

SINGAPORE (ICIS News)--Gulf Petroleum is looking to invest $5bn in the development of an integrated oil and gas complex in Manjung, Malaysia, the state agency Perak Investment announced on Tuesday.   

 

The 400-hectare site would be developed in three phases, involving investment from Qatar, Saudi Arabia, Bahrain, the United Arab Emirates, Oman and Kuwait, the agency said.

 

The integrated oil and petrochemical complex, intended as an Asia-Pacific regional hub, will comprise of an oil refinery, petrochemicals project and oil storage facility.

 

Its oil refinery is expected to operate at a capacity of between 100,000-150,000 bbl/day.

 

The complex will source its crude oil feedstock supplies from Gulf countries and re-export 60% of products.

 

Gulf Petroleum is an integrated oil and gas group with interests in the Middle East, North Africa and Europe. Its shareholders include the royal family of Qatar, the Qatar General Insurance and Reinsurance Company, Al-Mana Group, National Petroleum Services and the banking group Al-Sari.  

By: Serene Cheong
+65 6780 4359

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