KOTA KINABALU, Feb. 18 -- The construction of a petroleum storage and refining plant at the Sipitang Oil and Gas Industrial Park (SOGIP) is set to start in April.
Chief minister Datuk Seri Hajiji Noor said the plant is owned by Petroventure Energy Sdn Bhd and is expected to solidify Sabah's position as a regional key player in the oil and gas industry.
"The project will involve building a refinery with a capacity of up to 150,000 barrels per day (BPD) and oil storage facilities capable of holding 3 million cubic meters of crude oil and refined petroleum products.
Spanning over 400 acres at SOGIP, the project is expected to attract over US$3.5 billion (RM15.5 billion) in foreign direct investment (FDI) and create nearly 5,000 job opportun...