CBI member Shell and China National Offshore Oil Corporation (CNOOC) recently announced that they had signed a Global Strategic Alliance Agreement that reconfirms both parties' commitment to the existing strategic partnership in China and around the world.
Under the agreement, the companies also committed to exploring potential cooperation opportunities in upstream, midstream, and downstream.
Chinese Premier Li Keqiang and U.K. Prime Minister David Cameron both witnessed the signing of the agreement.
Shell and CNOOC have enjoyed an excellent partnership in and outside China in both upstream and downstream projects, including offshore Yinggehai off Hainan Island and a successful petrochemicals joint venture in Huizhou, Guangdong Province. The parties are also working together in liquefied natural gas projects and upstream deepwater projects, including in Gabon and Brazil among others.
CNOOC Chairman Wang Yilin said, "We are delighted to see our strategic partnership with Shell taking a step further under the Agreement. It is another milestone for our already fruitful, mutual-beneficial cooperation. I look forward to deeper and more extensive cooperation with Shell."
Ben van Beurden, Shell's CEO, said, "We are very happy to reconfirm our commitment to the Shell-CNOOC strategic partnership that has borne many fruits. 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."
Please click here to read the full press release by Shell.