ExxonMobil signs agreement, MOU to study new complex in Huizhou, China

03 November 2017 06:18 Source:ICIS News

(adds spokesman comments, recasts)

SINGAPORE (ICIS)--ExxonMobil has signed a strategic cooperation framework agreement and a memorandum of understanding with the Huizhou local government in China to jointly evaluate a proposed world-scale petrochemical complex, a company spokesperson said on Friday.

The agreements with the Huizhou municipal government and the Administrative Committee of Huizhou Dayawan Economic and Technological Development Zone was signed on 1 November, according to local media reports.

The new complex will include a steam cracker and associated olefin derivative units, the spokesperson told ICIS.

“The study will focus on a facility that would be located in the Huizhou Dayawan Petrochemical Industrial Park, one of China's top petrochemical bases,” she said.

“The products produced will utilize ExxonMobil's advanced technologies and support the needs of the growing Chinese market,” the spokesperson added.

China has been mulling building seven biggest refining and petrochemical bases across the country, with Huizhou identified as one of the prospective sites.

Huizhou currently houses a refining capacity of 240,000 bbl/day under CNOOC and an ethylene capacity of 2.2m tonnes/year under the CNOOC-Shell joint venture.

With additional reporting by Fanny Zhang

By Nurluqman Suratman