Sinopec and Technip-Coflexip announce strategic partnership
A memorandum of understanding was signed in Beijing on June 25th, 2003 between Sinopec Group and Technip-Coflexip (NYSE: TKP and Euronext: 13170) . 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 and China.
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 the world.
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 Oxide, 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 persons, Technip-Coflexip ranks among the top five corporations 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.
Technip-Coflexip Press Relations
Sylvie Hallemans: Tel. +33 (0) 1 47 78 34 85 Fax: +33 (0) 1 47 78 24 33 email@example.com
Technip-Coflexip Investor and Analyst Relations
Christopher Welton: Tel. +33 (0) 1 47 78 66 74 Fax: +33 (0) 1 47 78 67 58 firstname.lastname@example.org
David-Alexandre Guez: Tel. +33 (0) 1 47 78 27 85 Fax: +33 (0) 1 47 78 67 58 email@example.com