Aramco’s US$7bil investment in Rapid by end of the month

“We expect the US$7bil investment to be in by the end of this month,” he told reporters after announcing the update on the project in his opening speech at the four-day Offshore Technology Conference Asia in Kuala Lumpur yesterday.

Last February, Aramco signed a deal with Petronas, where it would invest US$7bil (RM31bil) for a 50% stake in its Rapid project, which is under construction at the Pengerang Integrated Complex (PIC).