Kuala Lumpur: Oil and gas services provider Dialog Group and Concord Energy, a crude oil and petroleum product trading firm, have signed a memorandum of understanding to conduct a feasibility study for a proposed development of a crude oil and petroleum product storage terminal for the latter in Pengerang, Johor.
The study will take about a year to complete and look into a site with a storage capacity of up to 2m cu m and deepwater jetty facilities to enable VLCC access for Concord Energy.
The proposed development would have an initial planned capacity of up to 1m cu m as part of the Pengerang Deepwater Petroleum Terminal (PDPT) project, an entry-point project under the Economic Transformation Programme. The facility has a proposed storage capacity of 5m cu m with the whole site covering 500 acres.
The first phase of the PDPT, developed in a joint venture between Dialog, Royal Vopak and State Secretary, Johor (Inc), involves the construction of an initial storage capacity of about 1.3m cu m together with six berths costing RM2bn to be operational next year. [22/11/13]