CNOOC, Shell set to double JV capacity
Print Edition
CHINA National Offshore Oil Corp said yesterday that it has signed an agreement with Royal Dutch Shell Plc to expand a joint petrochemical venture in Guangdong Province.
The capacity of this equally owned ethylene-cracking facility in Huizhou is expected to double to 2 million tons a year.
New chemical units will also be added to the expanded production area.
Once the project is approved by the government, the agreement will allow Shell to impart new key technologies for the production of epoxyethane and ethanediol. The expansion is expected to be completed in two years.
The joint venture was set up in 2000 with an investment of US$4.1 billion and began operating in 2006.
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