Singapore-based ChemOne Group has secured USD500 million from banks and financial institutions in the Middle East for the Pengerang Energy Complex (PEC) which is being developed in Malaysia.
The complex will be located within the Pengerang Integrated Petroleum Complex (PIPC) in Johor, the USD5 billion plus facility will be capable of processing 150,000 barrels per day (bpd) of condensate plus side-feed of naphtha that, in turn, will produce 2.3 million metric tonnes per annum (mmtpa) of aromatics.
The complex will have an energy products output of 3.9 mmtpa and a hydrogen output of 50,000 mmtpa. PEC already has USD102 billion of long-term feedstock supply and product off-take agreements in place with companies such as Chevron and Equinor, Thailand-based PTT and Japan-based Mitsui & Company.
ChemOne will develop, build and operate the site. Italy-based Maire Tecnimont has been selected as the engineering, procurement, construction and commissioning (EPCC) partner, meanwhile, Honeywell UOP will be providing advanced reforming and aromatics technologies.