CNOOC and Shell Petrochemical Co., Ltd approved the capital increase phase 2 of HuiZhou Refinery start to deal chemical project delivery

China National Offshore Oil Corporation(Hereinafter referred to as "“CNOOC”)and the Royal Dutch Shell (hereinafter referred to as “Shell”)each holding 50% of the joint venture CNOOC and Shell Petrochemical Co., Ltd.(hereinafter referred to as “CSPC”)，it has received all the necessary government approval, capital increase reorganization, the second phase of the chemical project take delivery. On Nov 2nd 2016,CNOOC and Shell jointly issued the news that the project is owned and operated by the joint venture company.

Since November 1, the joint venture will receive formal chemical assets such as ethylene crackers and other derivative production plants under construction from CNOOC.

The new petrochemical complex is adjacent to CSPC's existing petrochemical complex in Daya Bay, Huizhou, Guangdong, raising its annual production capacity of 1.2 million tons of ethylene

The expansion project also includes a set of the largest process unit for styrene and propylene oxide (SMPO) production at home. At present, about 70% of the project construction has been completed, the new device is expected to put into operation in the fourth quarter of next year.

The picture shows the expansion of the project site

"We are pleased to use Shell's industry-leading technology to expand our cooperation in the project, and the approval of the government and the relevant departments has allowed us to successfully complete the project delivery from CNOOC to CSPC," said Dong Hyo-lee, Assistant General Manager of CNOOC and General Manager of Refining and Chemical Company. It is an important step for our production of more chemical products for the growing domestic market. "

"Combining our strategic partner, CNOOC, we are looking for further growth in the growing petrochemical market to meet our customers' needs," said Van Hofu, global president of Shell Chemicals. "The current focus is on achieving first-class delivery of the project "

According to reports, the cooperation projects using a number of domestic and international industry-leading technology, including Shell's proprietary OMEGA, SMPO and polyol technology, the annual production of ethylene oxide 150,000 tons, ethylene glycol 480,000 tons and 630,000 tons Styrene, 300,000 tons of propylene oxide, and 600,000 tons of high quality polyether polyols. Which will expand the range of CSPC products, with an annual capacity doubling to 6 million tons, is also the industry's leading Shell OMEGA and polyol technology in China's first application.

CSPC has achieved significant results in terms of reliable and safe operation. Its main production areas include olefins and other derivatives, the products are widely used in the production of a variety of consumer goods such as computers, plastic bottles, cars, furniture, washing liquid and personal care products.

From ——today's headlines

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