Anwar to meet Petronas for talks on Saudi Aramco project in Pengerang

Prime Minister Anwar Ibrahim during a meeting with Saudi Aramco leaders during his visit to Riyadh, Saudi Arabia, last October. (Bernama pic)

PUTRAJAYA: Prime Minister Anwar Ibrahim will meet Petronas officials this week to discuss the national oil and gas corporation’s project with Saudi Aramco at the Pengerang Integrated Complex (PIC) in Johor.

“I will discuss with Petronas in one to two days as there are three important matters – two have been settled,” he said in a speech at the finance ministry’s monthly assembly here.

“There is a slight problem that requires a decision at the government level,” added Anwar, who is also the finance minister.

Saudi Arabia’s state-owned Saudi Aramco, an integrated energy and chemicals company, is looking to expand its facilities in Malaysia by adding petrochemical and gas downstream activities.

Last October, Aramco president (downstream) Mohammed Y Al Qahtani said the company was excited about the Pengerang project and looking forward to sustaining not only the operation, but also its potential expansion in the future.

Aramco has also said it aims to make PIC the hub of its oil and gas development in Southeast Asia.

Aramco had teamed up with Petronas to set up the Pengerang Refining Company Sdn Bhd and Pengerang Petrochemical Company Sdn Bhd, in Pengerang with an investment of US$7 billion (RM32.25 billion) in the joint venture.

The PIC has a production capacity of 300,000 barrels of crude oil per day and produces a range of refined petroleum products, including low-sulphur jet fuel, motor gasoline and diesel that meets Euro 5 fuel specifications.

In a Bernama report, Anwar urged Petronas staff to continue working with integrity after reminding them of the energy giant’s international reputation.

Apart from ensuring proper management and good governance, he said Petronas should continue having clear policies on investment and job opportunities.

“When I was in China, the US, Saudi Arabia and the United Arab Emirates… Everyone was speaking well of Petronas,” he said.

“At times, the recognition given to Petronas was higher than that given to the country.

“Although Malaysia was previously embroiled in issues such as poor governance, corruption and other scandals that hurt the country’s reputation, I am proud of Petronas for always ensuring high levels of integrity.”