PENGERANG, Johor: Petroliam Nasional Bhd's Pengerang Integrated Complex (PIC) is expected to reach 98 per cent completion by the end of 2018 from the current 84 per cent.
Overall, the project's progress with 63,000 workers on site is on track to begin operations in the first quarter 2019.
PIC Refinery and Petrochemical Corp (PRPC) head of stakeholder, communication and risk management decision Datin Anita Azrina Abdul Aziz said the full operations will commence two to three months after project startup.
"The project, which received its final investment decision in 2014, now has more than 40 major EPCC packages, 13 licensors, over 200 suppliers and contractors, and has achieved an overall progress of 84 per cent.
"The project is also expected to reach 98 per cent completion by the end on 2018, before it goes into commissioning and full operations in the first quarter 2019," she said during the media familiarisation visit of the the integrated complex today.
Anita said the project had already used more than 60 per cent of the US$27 billion (RM105 billion) in total development cost.
PIC, which covers 6,242 acres and involving up to 70,000 personnel from 65 nationalities working towards the final leg of construction, is projected to take some 350 million man hours to complete.
Asked on possible investor interests, Anita said while Petronas is always looking for potential investment opportunities that suits the requirement of the packages, there were no partners to be announced in the first quarter this year.
In February 2017, Saudi Arabian Oil Co (Saudi Aramco) committed an investment of US$7 billion (RM31.08 billion) in the project, making Saudi Arabia the single largest investor in the country to date.
The project is expected to achieve its milestone for the first crude oil refining in October 21 2018.