Ltd. (CNOOC Shell)

CNOOC and Shell Petrochemicals Company (CSPC) Limited was established as a Chinese-foreign equity joint venture on 28 December 2000. It has built and now operates a USD 4.1 billion world-scale petrochemicals complex in Daya Bay, Huizhou, Guangdong. It is one of the largest capital investments for a Sino-foreign joint venture project to date in the People's Republic of China. In 2016, an agreement was reached between the partners to expand CSPC, more than doubling the production capacity with the addition of a 1.2 million ton/year ethylene plant, creating an additional 4.0 million tons/year of petrochemical products (C2). The partners are Shell Nanhai B.V., a member of the Royal Dutch Shell, with a 50 per cent stake, and CNOOC Petrochemicals Investment Company Limited (CPIL), also with 50 per cent. CPIL is owned by China National Offshore Oil Corporation (CNOOC) (90%) and Guangdong Guangye Investment Group Company Limited (10%). The CSPC petrochemicals complex incorporates the world's most advanced technologies and utilizes modern management systems and international standards in the design, construction, and operation of the complex. Its adoption of 13 patents through international bidding ensures it operates on the cutting edge of technology. The majority of its process units are world-scale. Additionally, CSPC applies the principles of sustainable development throughout the design, construction, and operation of the complex, demonstrating its strong commitment to the community and the environment.