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Shell and CNOOC reaffirm strategic partnership

18th June 2014

Shell and China National Offshore Oil Corporation (CNOOC) have signed a Global Strategic Alliance Agreement that reconfirms both parties’ commitment to the existing strategic partnership in China and around the world

Shell and CNOOC sign reaffirm strategic partnership
The parties are working together in liquefied natural gas (LNG) projects and upstream deepwater projects including in Gabon and Brazil among others

Under the agreement, the companies also commit to exploring potential cooperation opportunities in upstream, midstream and downstream. The agreement was signed by Royal Dutch Shell Chairman Jorma Ollila and CNOOC Chairman Wang Yilin. Chinese premier Li Keqiang, who is on an official visit to London, and British prime minister David Cameron witnessed the signing of the agreement.

“We are delighted to see our strategic partnership with Shell taking a step further under the agreement,” said Wang Yilin, CNOOC chairman. “It is another milestone for our already fruitful, mutual-beneficial cooperation. I look forward to deeper and more extensive cooperation with Shell.”

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 (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’s CEO. “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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