Using the strengths of both joint venture partners has enabled the CNOOC Shell Petrochemicals Company Limited (CSPCL) to form an independent, world-class company positioned to provide China with a vital new source of petrochemicals.
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Unique partnership drives success
The 50:50 joint venture brings China’s CNOOC Petrochemicals Investment Limited (CPIL), together with Shell Nanhai BV, part of the wider Shell Group. Drawing fully on the skills, technology and contacts of both partners was fundamental to transforming the Daya Bay site into a major petrochemicals hub in just three years.
The pair formed CSPCL in December 2000 to study the Daya Bay proposal, and made the final investment decision on 1 November 2002.
Complementary strengths
Shell Nanhai BV contributed leading technology, project management and sustainable development expertise to the project. With a collective multi-billion dollar turnover and major manufacturing facilities around the world, Shell chemicals companies are among the world's largest petrochemical operations. Shell companies have operated in China for more than a century and has 1,900 employees and joint venture staff working in the country.
Shell’s ability to bring the best technology to the project along with modern management skills was a key factor in cementing the relationship with its Chinese partners. Nine of the 12 major technology components in the complex’s design are 100% Shell.
CPIL brought cultural know-how and extensive experience of operating in China – from a national and regional perspective. It is 90% owned by China’s state oil company, the China National Offshore Oil Corporation (CNOOC). The remaining 10% of CPIL is owned by the Guangdong Investment and Development Company, which supports the project with local expertise.
Since CNOOC’s incorporation in 1982, the fast-paced company has grown to 22,000 employees. It is an expert in developing and operating Sino-foreign joint ventures in China and has signed more than 150 contracts with international energy companies.
