Shell, CNOOC Further Cement Global Energy Partnership

Shell and China National Offshore Oil Corporation (CNOOC) have agreed to further cement their existing strategic partnership in China and around the world.

The two parties signed a ‘Global Strategic Alliance Agreement’ through which the companies expressed their commitment to exploring potential cooperation opportunities in upstream, midstream and downstream, Shell said in a statement Tuesday.

The Agreement was signed by Royal Dutch Shell Chairman Jorma Ollila and CNOOC Chairman Wang Yilin in London.

Shell and CNOOC have enjoyed an excellent partnership in and outside China in both upstream and downstream projects including offshore Yinggehai off Hainan Island and a successful petrochemicals joint venture in Huizhou, Guangdong province. The parties are also working together in liquefied natural gas (LNG) projects and upstream deepwater projects including in Gabon and Brazil among others.