The CNOOC and Shell come to an agreement to extend the petrochemical project of South China Sea

On March 22nd, China National Offshore Oil Corporation and Royal Dutch Shell jointly announce that they reach an agreement to expand the joint venture enterprise CNOOC and Shell Petrochemicals Company Limited with the share proportion of 50%:50% held by each partner, which is located in Daya Bay petrochemical area, Huizhou City, Guangdong Province.
After the declaration approved by the government, the petrochemical complex C2 of CNOOC constructing in the petrochemical zone currently will be integrated with the adjacent South China Sea petrochemical complex C1 which has been operating for decades. It is unified operated by CNOOC and Shell. The project includes a set of ethylene cracking facilities under construction with an annual output of at least 1 million tons of ethylene and other derivatives production facilities. When completed, the present capacity of CNOOC and Shell will be doubled. The project also includes a set of currently the largest domestic styrene and propylene oxide (SMPO) production facilities.

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