The first crude oil cargo for the joint venture (JV) between state-run Saudi Aramco and Malaysian energy firm Petroliam Nasional Berhad (Petronas) will be offloaded on Monday.

The very large crude carrier (VLCC) Navarin, which is carrying one million barrels of Saudi Arab Medium crude and Iraqi Basra Light crude, arrived in Malaysia on 21 September, Reuters reported, citing Saudi informed sources as saying.

Aramco-Petronas JV, Refinery and Petrochemical Integrated Development (RAPID), is a $27 billion complex located between the Malacca Strait and the South China Sea.

The complex’s refinery capacity stands at 300,000 barrels per day (bpds), in addition to petrochemical units of 7.7 million tonnes a year.

The Saudi and Malaysian oil firms evenly own the $27 billion complex, while refinery activities are scheduled to start in 2019, with petrochemical operations to follow six to 12 months later

-Mubasher