Dateline 2015-06-10, Seatrade Maritime:
In a welcome change, Malaysia’s oil and gas (O&G) industry players are taking advantage of the market downturn to prepare themselves better for the future.
Local media reported that Terengganu state government, through its unit Eastern Pacific Industrial Corp (EPIC), is planning a MYR2bn ($533.5m) expansion for the Kemaman Supply Base (KSB) in the state.
Construction work on the project at the over 30-year-old KSB is expected to begin in 2016 and be completed in 2019.
“We have been planning for an expansion for a long time as we need to prepare for growth. We want to make sure that Terengganu is serious and be exposed to as many opportunities as possible in the oil and gas sector,” Terengganu chief minister Seri Ahmad Razif Abdul Rahman was quoted as saying.