Paris, March 13, 2012 − Total today signed a comprehensive Memorandum of Understanding (MOU) with Kuwait Petroleum International (KPI)1 and Petrochemicals Industries Company (PIC)2, two wholly owned subsidiaries of Kuwait Petroleum Corporation. The MOU relates to a targeted participation in the Zhanjiang project in China. This project consists of a planned development of a large size (300,000 barrel per day), full-conversion refinery integrated with petrochemicals and marketing, in partnership with Sinopec.
The proposed refining and petrochemicals platform will be designed to process Kuwaiti crude as feedstock and to produce high-quality refined and petrochemicals products.
“KPC is pleased to expand its cooperation with Total” declares Mr Farouk Al Zanki, KPC Chief Executive Officer, after the signing of the MOU. “Total, with its long experience in the Downstream business in China coupled with know how in Refining and Petrochemicals operations, will add value to the China project. Moreover Total and KPC’s strategic objectives in Guangdong are highly aligned”, he adds.
“Total is pleased to have been selected by Kuwait Petroleum Corporation as its preferred partner to participate in the project of a top-performing refining and petrochemicals platform with Sinopec in China. This agreement will be the keystone of a long-term relationship with KPC”, declares Mr Christophe de Margerie, Total Chairman and Chief Executive Officer. “The project is in line with our strategy of expanding in growth markets, based on a few highly competitive and integrated platforms”, he adds.
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MILWAUKEE--(BUSINESS WIRE)--Mar. 12, 2012-- Rockwell Automation, Inc. (NYSE: ROK) today announced it has purchased the assets of SoftSwitching Technologies, a leading provider of industrial power quality detection and protection systems, located in Middleton, Wis.
IRVING, Texas--(BUSINESS WIRE)--Mar. 8, 2012-- Fluor Corporation (NYSE: FLR) announced today that The Dow Chemical Company (NYSE: DOW) and Fluor have signed a Strategic Global Engineering, Procurement, Construction (EPC) and Construction Management Agreement in support of Dow’s global capital projects program ranging across all Dow products. This three-year agreement has a two-year extension option for up to five years and includes potential new project work spanning across the globe. Dow currently serves customers in approximately 160 countries and in high growth sectors such as electronics, water, energy, coatings and agriculture.
Technip has been awarded a lump sum front-end engineering design (FEED) contract by Statoil ASA for the development of the Luva floating platform, offshore Norway, at a water depth of approximately 1,300 meters (4,265 feet). The contract covers the design and planning for procurement, construction and transportation of a Spar(1) hull and the mooring systems as well as the design of the steel catenary risers(2). The award builds on the study work (including pre-FEED) that has been ongoing since early 2010 to document the suitability of a Spar platform in Norwegian waters.
SNC-Lavalin (TSX: SNC) will provide project management, engineering, procurement and construction management (EPCM) services for Vale’s $2-billion Clean AER (Atmospheric Emissions Reduction) Project in Sudbury, Ontario.