The company has accomplished a feasibility study on the economic viability of constructing and working a crude oil storage and a refinery in Pulau Muara Besar.
PetroBru was tasked with conducting the study early this year.
“I’m happy with the positive outcomes of the financial feasibility research which revealed the viability of the potential oil refinery in Brunei, with a processing capacity of 200,000 barrels of oil per day.
“We are going to now proceed with the detailed feasibility study which will take about six months. We count on the undertaking development to begin in the first half of 2010,” TRC govt chairman Datuk Seri Sufri Mohd Zin stated in a statement.
Sufri said the potential oil refinery had also attracted Kuwait Petroleum International.
“We’re in talks to see how we can additional maximise the potential of the oil and fuel business in Brunei,” he stated.
He stated TRC strongly imagine its investment in the oil and gasoline industry will contribute positively to the group’s future earnings.
To date, TRC has invested RM2.5 million in Brunei. Its order book stands at RM1.5 billion until 2010.
Initially printed by Bernama webpage, Kuala Lumpur, in English 0903 19 Sep 08. Offered by ProQuest LLC. All rights Reserved.
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