Singapore Petroleum Company
Singapore Petroleum Company Limited (SPC，a PetroChina company) is a Singaporean oil company. SPC is involved in the exploration and production of petroleum, refining, trading and petroleum product distribution.
The company was founded in 1969 as the Singapore Petroleum & Chemical Co. Pte Ltd and later changed its name to the Singapore Petroleum Company Ltd. The company is also a part owner of Singapore Refining Company Pte Ltd which was founded in 1979.
SPC's presence and profile in the regional E&P sector has grown with the acquisition of assets over the years. These assets include Block B in Cambodia, the Kakap Production Sharing Contract (PSC) and the Sampang PSC in Indonesia, Blocks 102 and 106, and Block 101-100/04 in Vietnam, Block T06-3 in Australia. In 2007, they expanded their assets to China with 3 additional blocks, 04/36 & 05/36 in Bohai Bay and Blk 26/28, offshore China.
In the pipeline business, SPC holds interests in three regional gas transmission pipelines. The 654-kilometre West Natuna Transportation System is the first Singapore cross border sub-sea gas pipeline carrying gas from the West Natuna Sea to Singapore. A consortium of PSC blocks in West Natuna including the Kakap PSC owns this pipeline.
The 468-kilometre Grissik-Batam-Singapore Pipeline is the second direct gas pipeline transmitting gas from Indonesia to Singapore. Gas to Singapore commenced in 2003 under a 20-year term contract between Singapore and Indonesia. The 536-kilometre Grissik-Duri Pipeline is a trunk line that transmit gas from the Grissik gas fields to Caltex's Duri facilities under long term contracts that commenced in 1998.
SPC, with equal partner Caltex (part of Chevron Corporation), owns half of the 285,000 barrels per day (45,300 m3/d) Singapore Refining Company (SRC) plant, a complex refinery capable of cracking crude oil.
The refining of crude oil to petroleum products remains central to the Group’s operations. Given the complexity of its refining facilities, SPC is able to refine heavy, medium and light crudes. SPC buys crudes from some 13 countries with the bulk of its supplies coming from the Middle East. The API gravity of these crudes range from 18 (mostly heavy/sour crude) to 45 (mostly light/sweet crudes). In 2006, the Group processed more than 51 million barrels (8,100,000 m3) of crudes through SRC, its jointly-owned refinery on Jurong Island.
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