and Technip-Coflexip strategic partnership
Posted: 30 June 2003
A memorandum of understanding was signed in Beijing on June 25th,
2003 between Sinopec Group and Technip-Coflexip.
Under this agreement Sinopec and Technip-Coflexip have undertaken
to create a strategic partnership in order to cooperate on the engineering,
procurement and construction of oil and gas, refining, petrochemical
and chemical projects in the Middle East, India, Africa, Asia Pacific
Technip-Coflexip is proud to have performed many projects for Sinopec
and expects the new partnership to allow the two companies to combine
their expertise and skills in order to enhance their competitiveness
and further develop their business in China and in other parts of
Sinopec, an important world class petrochemical corporation, integrates
upstream with downstream, importing with exporting and production
with marketing and sales.
It is also involved in engineering, equipment manufacturing, technological
research and construction activities related to refining and petrochemicals.
Technip-Coflexip has been very active in China for over thirty
years. During the past 12 months China has been a very active market
for Technip-Coflexip with a cumulative order intake of over 400
million euros, mainly in the petrochemical sector:
- THF/Poly-THF unit for BASF in Caojing (Shanghai)
- Syngas unit for YPC/BASF in Nanjing
- Styrene Monomer, Propylene Oxyde, MPG/Polyols facilities for
CSPC (CNOOC/Shell) in Huizhou (Guandong Province)
- Two polyethylene units for SECCO (SINOPEC/BP) in Caojing
- PVC/VCM for Tianjin Dagu in municipality of Tianjin
In addition, Technip-Coflexip made a breakthrough in the Chinese
offshore area with two engineering service contracts for CNOOC in
Pinghu and Chunxiao.
As a result, the engineering center of the Group in China, Technip
Tianchen located in Shanghai, is growing rapidly with a workforce
moving from 150 people one year ago to 350 today.
With a workforce of about 19,000, Technip-Coflexip ranks among
the top five in the field of oil, gas and petrochemical engineering,
construction and services. Headquartered in Paris, the Group is
listed in New York (NYSE: TKP) and in Paris (Euronext: 13170). The
main engineering and business centers of Technip-Coflexip are located
in France, Italy, Germany, the UK, Norway, Finland, the Netherlands,
the United States, Brazil, Abu-Dhabi, China, India, Malaysia and
Australia. The Group has high-quality industrial and construction
facilities in France, Brazil, the UK, the USA, and Finland as well
as a world-class fleet of offshore construction vessels.
For more information see http://www.technip-coflexip.com.
Posted by Richard Price,
Information supplied by companies
or PR agencies who are responsible for content. Send press releases