CNOOC reveals plans for Fujian province

China National Offshore Oil Corp. (CNOOC) is making preliminary plans to build petrochemical plants and offshore engineering facilities in coastal Fujian province, a company official said. The state-run company, parent of offshore oil and gas producer CNOOC Ltd., is expanding aggressively into the refining and petrochemical business. It already operates an 800,000 ton per year (tpy) ethylene complex in southern Guangdong province, where in March it also started up its first major refinery with a crude oil processing capacity of 240,000 barrels per day (bpd). It was reported that CNOOC was looking to set up a large petrochemical base and commercial reserves of both crude and petroleum products in Ningde, Fujian province. Company officials said CNOOC is in the early stages of planning for the Ningde Sanduao industrial park and have set up a firm dedicated to the park’s development. CNOOC said it may build petrochemical plants and offshore engineering works such as drilling rigs at the park. (May 27, 2009)