Shell has signed a global strategic alliance agreement over partnership in oil and gas operations in China and globally with China National Offshore Oil Corporation (CNOOC).
The deal, signed on Tuesday during Chinese Premier Li Keqiang’s official visit to London, sets out both parties’ commitment to exploring potential cooperation opportunities in upstream, midstream and downstream.
The new agreement extends the existing partnership between Shell and CNOOC in both upstream and downstream projects including offshore exploration off Hainan Island and a successful petrochemicals joint venture in Huizhou, Guangdong province.
The companies are also working together in liquefied natural gas (LNG) projects and upstream deepwater projects including in Gabon and Brazil among others.
“We are very happy to reconfirm our commitment to the Shell-CNOOC strategic partnership that has borne many fruits,” said Ben van Beurden, Shell chief executive.
“We are committed to growing business together with CNOOC and other Chinese partners and cooperating with them internationally to bring more and cleaner energy to China.”
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