China National Offshore Oil Corporation (CNOOC) and Royal Dutch Shell's joint venture has commenced formal production. CNOOC, Royal Dutch Shell and the Guangdong provincial government invested in the US$4.2 billion U.S. dollar project, which is the largest joint venture in China. Royal Dutch Shell owns 50 percent, CNOOC holds 45 percent and the Guangdong government holds 5 percent.
The core of the project is a set of ethylene cracking facilities. With an annual production capability of 800,000 tons of ethylene and 430,000 tons of propylene, the facilities could refine not only naphtha, but heavier condensate oil as well as hydrogenation unconverted oil and depression diesel. The project has adopted 13 patent technologies through international public bidding, including Shell's world-leading PO/SM technology. The largest PO/SM facility in the world, it can produce 550,000 tons of styrene monomer and 250,000 tons of propylene oxide each year.
03-Apr-06 
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