CNOOC invests 5 billion in a chemical project that is set to begin construction in Dongfang, Hainan

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CNOOC begins construction of a 5 billion yuan chemical project in Dongfang, Hainan. Source: Xinhua News Agency. 2009-03-02 CNOOC is investing another 5 billion yuan in Hainan to build a fine chemicals (DCC) production facility in Dongfang City, with an annual production capacity of 2 million tons. The CNOOC Hainan Fine Chemicals (DCC) project commenced construction on the 26th in the Dongfang Industrial Zone. This project is also another major initiative by CNOOC following the launch of an 800,000-ton methanol production facility in Qiong last November. According to a report in the Hainan Daily published on the 27th, the DCC project is an olefin chemical complex built with investment from CNOOC, and it is a key project included in Hainan Province’s 11th Five-Year Development Plan. Leveraging the abundant oil and gas resources surrounding Hainan Island, this project utilizes advanced technologies to produce important chemical products such as propylene, liquefied gas, MTBE (methyl tert-butyl ether), and naphtha, in accordance with the principles of a circular economy, clean production, and green chemistry. The project plan is to complete the preliminary design by June this year, and the detailed design by December. The facility was completed and put into operation in May 2011. CNOOC has been committed to implementing the \"Two Continents and One Bay\" strategy in recent years. To date, CNOOC has built the Huizhou refinery project in the Pearl River Delta, which is the largest of its kind in China with an annual processing capacity of 12 million tons; in addition, it has the CNOOC Shell ethylene plant with a capacity of 800,000 tons, the Huizhou strategic crude oil reserve facility with a capacity of 5 million cubic meters, and fine chemical projects in Shenzhen. Based in Huizhou, CNOOC will ultimately establish a refining facility with a capacity of 40 million tons and an ethylene production facility with a capacity of 3 million tons ； In the Yangtze River Delta region, with Daxie in Ningbo as the base, a refining capacity of 10 million tons along with corresponding chemical production capabilities were ultimately established ； In the Bohai Bay region and other areas, with Shandong as the base, a production capacity of 10 million tons in sectors such as oil refining and salt chemical industry was ultimately established. Over the years, CNOOC has invested over 20 billion yuan in Hainan, establishing a number of major projects such as Fudao Fertilizer and a 600,000-ton methanol plant.