Recently, CNOOC and Shell Petrochemical Co., Ltd. (hereinafter referred to as "CNOOC and Shell") announced that its Huizhou Phase III ethylene project (hereinafter referred to as "Phase III Project") and polycarbonate project (hereinafter referred to as "Polycarbon Project") have completed the final investment decision (FID), marking that the company has officially entered the implementation stage of deepening the layout in the field of high-end new materials. This move will provide stronger support for the high-quality development of the green petrochemical strategic pillar industry in Guangdong Province and the manufacturing industry in the Guangdong-Hong Kong-Macao Greater Bay Area, as well as the creation of a global petrochemical industry highland in Huizhou and Daya Bay.

the third phase of the project plans to build 16 chemical production units and supporting facilities, including a 1.6 million-ton/year ethylene cracking unit and downstream, which are expected to be completed and put into operation in 2028. The project introduces a number of first-time applications in Asia and China, seven of which will use Shell's proprietary technology.

The third phase of the project can provide more than 500 million tons of chemical products to the market each year, including high-end chemicals such as metallocene polyethylene, polypropylene, styrene, polyether polyols, ethylene glycol, alpha olefins, synthetic alcohols, and poly alpha olefins. These products will effectively fill the gap in the demand for high-end chemicals in the domestic market and promote China's petrochemical industry to move towards the high end of the global value chain.

In addition, the third phase of the project also focuses on environmental protection and sustainable development. Through measures such as optimizing the scope of the project and electrifying large-scale compressor units, the project will achieve an overall 20% carbon dioxide emission reduction, promote the use of renewable green energy power, and help implement the national "double carbon" strategy.

the polycarbonate project will build 260000 tons/year polycarbonate plant, 240000 tons/year bisphenol A plant, 220000 tons/year diphenyl carbonate plant, and supporting research and development facilities, which are planned to be completed by the end of 2026. The project will adopt Shell's proprietary production technology applied in global industrialization for the first time, which has the advantages of low cost of raw materials and utilities, low energy consumption, safety and environmental protection.

After the project is completed and put into operation, it can produce 320000 tons of high-performance specialty chemicals, including polycarbonate and carbonate solvents. These products are important for the transportation, construction, medical and consumer goods sectors and will meet the market demand for high quality and differentiated new products.

Gao Yu, President of CNOOC and Shell, said that the third phase of the project and the poly carbon project are another strong alliance between CNOOC and Shell on the basis of the successful cooperation in the second phase of CNOOC and Shell 1. The new project will be integrated with the existing phase I and phase II resources and Huizhou petrochemical refining industry, improve the energy efficiency of refining and chemical integration, effectively extend the product value chain, and deepen the layout of high-end new materials.

This measure will meet the needs of domestic customers for the extension and development of the petrochemical industry chain, and at the same time help CSPC to further leverage the "banyan effect" and the driving advantages of large projects, and attract more downstream customers to settle in Huidong New Materials near Huizhou Daya Bay Industrial Park, To make new contributions to the construction of a global petrochemical industry highland in Huizhou and Daya Bay.

the existing two-phase plant of CNOOC Shell is in operation, with a total ethylene production capacity of 2.2 million tons/year. It is one of the largest ethylene monomer petrochemical combined plants in operation in China. After the completion of the two new projects, the total ethylene production capacity of CSPC will reach 3.8 million tons/year, which can supply more than 1000 million tons of high quality and diversified petrochemical products to the market.

Huang Zhongjin, vice president of CNOOC and Shell, said that the two projects will promote CNOOC and Shell's strategic goal of becoming the preferred partner for highly differentiated product solutions. With the company's continuous investment in product application research and development and the continuous improvement of research and development capabilities, CNOOC Shell will provide customer-centric product solutions, develop and produce customized and high-end products, and fulfill its commitment to sustainable development and high quality. Lifestyle commitment.