The participation of Saudi Arabian Oil Company (Saudi Aramco) in the Refinery and Petrochemical Integrated Development (Rapid) project in Johor does not pose a risk to Malaysia's interest, said Petronas.

Petronas president and group chief executive officer Wan Zulkiflee Wan Ariffin said that his company and Saudi Aramco were involved in a "50-50 partnership".

The US$7 billion agreement was signed by both Wan Zulkiflee and Saudi Aramco president and CEO Amin H Nasser today. It was witnessed by Saudi Arabia's King Salman Abdulaziz Al-Saud and Prime Minister Najib Abdul Razak.