Johor Petroleum Development (JPD) believes Johor could become one of Asia’s key oil storage hubs in the coming years, Bernama reports.
Expansion of facilities in Pengerang, Tanjung Bin and Tanjung Langsat will help bring Johor’s oil storage capacity to 10 million m3 between 2017-2020.
According to Mohd Yazid Jaafar, chief executive of JPD, Tanjung Bin – which currently stores 840,000m3 – could hold up to 3 million m3, and Tanjung Lansat’s current 650,000m3 capacity has the potential to reach 2 million m3.
At the Pengerang complex, around 5 million m3 of oil could be stored there. Dialog, in partnership with Vopak and Johor’s government, is building an RM5 billion independent deepwater petroleum terminal facility at the site.
Phase I of this project, which saw an investment of RM1.9 billion, will feature the construction of 1.3 million m3 of storage infrastructure slated for completion next year. The whole project is expected to be up and running in 2014.