Aker Kvaerner, SINOPEC strengthen link
26 Jul 2006
Companies will focus particularly on expanding their relationship in Saudi Arabia and other Middle East markets
London — Aker Kvaerner and SINOPEC Engineering and Construction are to jointly execute projects in the international marketplace under a memorandum of understanding between the companies, Aker Kvaerner announced 25 July.
Under the agreement, the companies will focus particularly on expanding their relationship in Saudi Arabia and other Middle East markets, said an Aker Kvaerner statement. The deal, it added, forms the basis for greater cooperation in identifying, marketing, bidding and executing selected projects in the future.
Aker Kvaerner and SINOPEC have previously cooperated in China on project for acetic acid, caprolactam, ethylene oxide/ethylene glycol, polyethylene and purified terephthalic acid. The companies are currently in a joint venture for the execution of a world-scale polyolefins project in Saudi Arabia for SABIC.
Aker Kvaerner provides overall project management services, extended basic engineering and procurement of the critical equipment, while SINOPEC supplies the detailed engineering and skilled labour for the construction activities.