PETRONAS STEPS UP PETROLEUM INVESTMENTS IN SUDAN
PETRONAS has further enhanced and strengthened its presence in Sudan by entering into the downstream refining business, reinforcing its dedication to offer a mutually useful contribution to the development of Sudan’s petroleum business.
The company yesterday (29 August) concluded its participation in the new Port Sudan Refinery Project, officially natural gas logs expanding its entry into the downstream enterprise within the nation following its acquisition of the complete retail property of Mobil Oil Sudan Ltd by means of its wholly owned subsidiary PETRONAS Advertising and marketing Sudan Ltd (PMSL) in March 2003.
An agreement signing ceremony was held in Khartoum along with the sixth anniversary celebrations of Sudan’s Petroleum Day. The ceremony was officiated by Sudan’s Minister of Power and Mining Dr Awad Ahmed El-Jaz and Minister of Finance and Nationwide Financial system Mohammed Hassan El-Zubair. Also present was PETRONAS President and Chief Govt Officer Tan Sri Dato Sri Mohd Hassan Marican. Officials from relevant authorities departments and the Malaysian Embassy, as well as PETRONAS’ enterprise partners attended the ceremony.
The new Port Sudan Refinery Challenge, situated at Port Sudan, which is the one entry port within the nation, is a excessive know-how advanced refinery with a total capacity of 100,000 barrels per day. It is an export refinery designed to course of excessive acid crude that may add worth to the Dar Mix from Sudan Melut Basin Blocks three&7 where PETRONAS has a forty% fairness curiosity. The manufacturing will meet the rising demand of petroleum merchandise in Sudan and neighbouring international locations under the Common Market of East and South Africa (COMESA) as soon as it’s totally natural gas logs operational by early 2009.This state-of-the-art refinery will produce prime quality petroleum merchandise assembly Euro 4 specs.
PETRONAS International Company Ltd, a wholly-owned PETRONAS subsidiary, has a 50 per cent interest within the refinery undertaking while the remaining 50 per cent fairness is held by the Ministry of Energy and Mining. Each PETRONAS and the Ministry will jointly invest, develop and function this export refinery.
PETRONAS’ entry into Sudan’s refining enterprise is testimony to PETRONAS’ lengthy-time period commitment to the event of the petroleum trade in Sudan. PETRONAS is already lively within the downstream retailing and aviation by PMSL and upstream sectors of the Sudan’s oil industry. PETRONAS already has pursuits in Blocks 1, 2 and four; Blocks three and 7; Block 5A, Block 5B and Block 8.