On September 13, CNOOC and Shell Huizhou Phase III Ethylene Project (referred to as Phase III Ethylene Project) signed a “cloud contract” in China and the United Kingdom. CNOOC and Shell respectively signed contracts with CNOOC Petrochemical Engineering Co., Ltd., Shell Nanhai Private Co., Ltd. and Shell (China) Co., Ltd. signed three agreements: Construction Service Agreement (CSA), Technology License Agreement (TLA) and Cost Recovery Agreement (CRA), marking the start of the overall design phase of the Phase III ethylene project. Zhou Liwei, member of the CNOOC Party Group, Deputy General Manager and Secretary of the Party Committee and Chairman of CNOOC Refinery, and Hai Bo, member of the Executive Committee of Shell Group and President of Downstream Business, attended and witnessed the signing.
The third-phase ethylene project adds 1.6 million tons/year of ethylene capacity on the basis of the 2.2 million tons/year ethylene production capacity of the first and second phase projects of CNOOC Shell. It will produce chemical products with high added value, high differentiation and high competitiveness to meet the market shortage and development needs of high-performance new chemical materials and high-end chemicals in the Greater Bay Area, and inject strong impetus into the construction of the Guangdong-Hong Kong-Macao Greater Bay Area .
The third phase of the ethylene project will realize the first application of alpha-olefin, polyalpha-olefin and metallocene polyethylene technologies in the Asia-Pacific region. With the help of the world’s cutting-edge technologies, the product structure will be further enriched and the transformation and upgrading will be accelerated. The project will continue to apply and improve the new model of international cooperation management, set up an integrated management team, speed up project construction, and build a world-class green petrochemical industry highland with global competitiveness.
Post time: Sep-22-2022