Shell and CNOOC to expand petrochemical complex in China

15-Dec-2015

Guangzhou, December 15, 2015 -- Shell Nanhai B.V. (Shell) and China National Offshore Oil Corporation (CNOOC) today signed a Heads of Agreement (HOA) to expand their existing 50:50 joint venture (JV) in Huizhou, Guangdong Province, China. Under the HOA, subject to final agreements and regulatory approvals, Shell is expected to join an ongoing CNOOC project to develop additional chemicals facilities next to the JV’s existing Nanhai petrochemical complex, which will be owned and operated by the existing JV.