From xinhuanet (link)
China National Offshore Oil Corporation (CNOOC) announced on Friday that its huge petrochemical project, a joint venture with Royal Dutch Shell, offthe South China Sea has begun formal production.
Located in Huizhou city of souch China’s Guangdong Province, the project is one of the largest petrochemical projects launched in China in recent years.
CNOOC, Royal Dutch Shell and the Guangdong provincial government invested in the 4.2 billion U.S. dollar project, which is the largest joint venture in China. Royal Dutch Shell owns 50 percent, CNOOC, 45 percent and the Guangdong government, 5 percent.
