About ETP
About ETP

Refinery and Petrochemical Integrated Development (RAPID)

Announcements - 13 June 2011
Oil, Gas and Energy

Refinery And Petrochemical Integrated Development (RAPID)
  • Since our founding in 1974, PETRONAS has always sought to pioneer new ways of developing and adding value to Malaysia's oil and gas resources.

    "As the custodian entrusted by the Government to manage those resources on its behalf, PETRONAS has always regarded it a salient duty to ensure that this precious, natural wealth of the country's would be developed in a manner that contributes to the well-being of the nation and its people. "

    Dato' Shamsul Azhar Abbas
    President and CEO
  • Our move into the downstream business - and the contributions it has since come to make - is a prime example of this spirit.

    "In terms of its contributions to nation-building, our downstream activities have helped to: "
    • broaden and diversify the country's industrial base;
    • strengthen the capacity to meet its own fuel requirements indigenously, which has enhanced the country's security of energy supply and economic security; and also
    • generate technical capability-building opportunities for thousands of Malaysians across several generations of employees.
    Dato' Shamsul Azhar Abbas
    President and CEO
  • Our move into the downstream business - and the contributions it has since come to make - is a prime example of this spirit.

    "They have also helped to promote a more balanced regional development within Malaysia - a fact that a drive around Kerteh and Gebeng, in the states of Terengganu and Pahang, respectively, would aptly serve to remind."

    Dato' Shamsul Azhar Abbas
    President and CEO

PETRONAS is spearheading the development of Project RAPID; the creation of a Refinery And Petrochemical Integrated Development (RAPID).

  • Investment by 2020 (billion)
    RM60
  • GNI Impact by 2020 (million)
    -
  • Jobs created by 2020
    -

Still at the detailed feasibility study stage, RAPID is estimated to cost about RM60 billion and will comprise a crude oil refinery with a refining capacity of 300,000 barrels-per-day, a naphtha cracker with a combined annual production capacity of approximately three million tonnes of ethylene, propylene, C4 and C5 olefins and a further development of about 22 mini petrochemical complexes is a major downstream oil, gas and petrochemical project in Pengerang, Johor. RAPID will be the largest green-field investment; not only for PETRONAS in the downstream sector but also within the Asia Pacific region. The recommended development site at Pengerang is also strategically located to access regional demand centres, near international shipping lanes, deepwater port facilities and complement existing refineries and petrochemical hubs within Malaysian eastern corridor and Singapore.

RAPID is set to leverage on opportunities opened up by global mega trends in technological advancements, increasing consumer awareness and affluence. Through this project, PETRONAS is set to further expand and diversify its petrochemical business through volume growth, a more diversified product base and more importantly, a greater focus on premium specialty chemicals industry in the vibrant Asia Pacific market.

View more Projects 2013/06/29

Numbers featured within this section are correct as of announcement date.
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