Sinopec and PetroSA signed a cooperation framework agreement on Mthombo refinery project

abarrelfullabarrelfull wrote on 28 Mar 2013 08:29
Tags: petrosa refinery sinopec south-africa


China Petroleum & Chemical Corporation (hereinafter referred to as China's Sinopec) and the National Oil Company of South Africa reached a cooperation framework agreement will promote cooperation between the two sides in the library Ha Industrial Park, Port Elizabeth, South Africa Dikembe to carry the world-scaleoutMthombo refinery project. The cooperation framework agreement signed by the chairman of the board of China's Sinopec Chairman Fu Chengyu and the National Oil Company of South Africa, Dr. Mo Kaba (Dr. Benny Mokaba). The two sides agreed to invite South Africa's Industrial Development Corporation (IDC) to participate in the project the next phase of work.

Prior to that, in May 2012, the China Petrochemical worked with the South African national oil company signed a joint research agreement, the two sides agreed to work together to carry out on Mutombo refining project business model. The cooperation framework agreement signed, compared with the acceleration of the project has laid the foundation for advancing. Cooperation Framework Agreement expressly jointly carry out oil and gas exploration and development projects in South Africa and its neighboring countries, the scope of cooperation. The two sides also discussed other areas of cooperation including the to explore downstream investment opportunities in the southern African region, new construction or acquisition of warehousing and logistics facilities to reach a consensus.

Take effect immediately after the signing of the cooperation framework agreement, valid for two years. Currently, the two sides on the progress of the project, expressed satisfaction and hope to expand mutually beneficial partnership, to seek cooperation in more fields.

Mr. Fu Chengyu, chairman of the China Petrochemical Corporation said: "South Africa's political stability and economic development the Chinese petrochemical concern and attention to the development in South Africa. The support of the Chinese government and the government of South Africa, as well as in the economic and technical feasibility under the premise that China Sinopec is willing to promote the launching of Mutombo refinery project in conjunction with the South African national oil company, and to explore other areas of cooperation in the hydrocarbon industry. The China Petrochemical expect to work together to promote the common development of the global energy industry and the National Oil Company of South Africa. '

South African National Oil Company CEO Nosizwe Nokwe-Macamo said: "The framework cooperation agreement for the implementation of the refinery project Mutombo is very important, and the National Oil Company of South Africa will have the opportunity with the world's major national oil companies - China Petrochemical Development mutually beneficial strategic partnership. strategic partnership will be beneficial to the continued development and growth of the national oil company in South Africa. "


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