Saudi Aramco became partner of project owned by Petronas

Baku. 28 February. REPORT.AZ/ Saudi Arabian company Saudi Aramco invested 7 bln USD in refining and petrochemical project "Rapid" owned by Malaysian national oil company Petronas and has a 50% interest in the project.

Report informs citing the Reutersş

According to the information, contract was signed by Saudi king Salman who is on visit to Malaysia and Malaysian Prime Minister Najib Razak.

Under the terms of the agreement, Saudi Aramco will provide Malaysian Johor state with 70 % of necessary supply, the rest part of gas and electricity supply will be provided by Petronas.

Oil refinery plant "RAPID" with daily processing capacity of 300 barrels and petrochemical plant with annual production capacity of 7,7 mln metric tons planned to build.