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Petrofield

Malaysia

 

 

 

Date: 2008 – Unclear

Deal: According to the International Oil Letter, in early 2008 Petrofield and the National Iranian Oil Company (NIOC) signed three cooperation deals worth a reported $14 to $16 billion (International Oil Letter, December 15, 2008). The contracts provide for a wide range of projects, including building a liquefied natural gas plant in Iran, developing Iran's Golshan and Ferdowsi gas fields, and exporting gas condensates to Malaysia (International Oil Letter, December 15, 2008).

Date: March 2008 - Ongoing

Deal: According to the National Iranian Oil Refining and Distribution Company website, a joint venture of the Indonesian firm Pertamina, the National Iranian Oil Refining & Distribution Company (NIORDC), and the Malaysian firm Petrofield are building an oil refinery worth $6 billion in Indonesia (NIORDC website, accessed July 7, 2010). The refinery, to be located in the Banten region of Indonesia, will use feedstock supplied by Iran and have a capacity of 300,000 bpd (NIORDC website, accessed July 7, 2010). According to an Indonesian news source, in March 2008, the parties signed the agreement to jointly build the $6 billion refinery (The Jakarta Post, March 12, 2008).

According to Bloomberg, the Banten refinery project was delayed due to financial problems. In order to meet the project's funding needs, a fourth company, the South Korean firm STX Corporation, was brought in to the project (Bloomberg, July 21, 2009).

U.S. Business Ties: According to USASpending.gov, Petrofield has not received any contracts from the U.S. government (USASpending.gov, accessed August 6, 2014).

Last Updated: August 6, 2014