Saudi Aramco finalized a deal on Wednesday with Malaysian state energy company Petroliam Nasional Berhad (Petronas) to invest in a refinery project off Malaysia. Saudi oil giant Aramco agreed in February 2017 to buy a USD 7 billion stake in Petronas's Petrochemical Integrated Development (RAPID) project, but the issue was then delayed. RAPID is a USD 27 billion project located between the Malacca Strait and the South China Sea. The two companies indicated in a statement that they signed the deal but did not confirm the value of Aramco's investment. Saudi Aramco will supply 50% of the refinery's crude oil with an option of increasing it to 70%. The development will contain a 300 kbpd oil refinery and a petrochemical complex with a capacity of 7.7 mta. Refinery operations are set to begin in 2019, with petrochemical operations to follow 6-12 months afterwards.