Johor oil and gas sector records RM140b investments since 2000

Johor oil and gas sector records RM140b investments since 2000

23 May 2023

Johor’s oil and gas sector has recorded a cumulative investment of RM140 billion since the industry was actively started in the state in early 2000.

Acting chief executive of Johor Petroleum Development Corp Bhd (JPDC) Izhar Hifnei Ismail said most of the investments were made in the Pengerang Integrated Petroleum Complex (PIPC) from 2012.

He said other investment locations in the sector in the state include Pasir Gudang, Tanjung Langsat, and Tanjung Bin.

“As of March 31 this year, PIPC recorded a total investment of RM124 billion, including from the Petronas and Dialog Group investments. If combined with the oil and gas projects carried out in Pasir Gudang, Tanjung Langsat, and Tanjung Bin, the total investment realised is RM140 billion.

“In the next two or three months, we are confident that there will be new investments from foreign companies that see the great potential of PIPC in Pengerang,” he told reporters after the Johor 2023 Oil and Gas Services and Equipment Sector Tour (OGSE) programme at Persada Johor International here today.

According to Izhar Hifnei, the development of the oil refinery and petrochemical processing centre at PIPC has also created 7,415 job opportunities with an estimated 70 per cent of the positions held by local people. 

Source: Bernama