Page 17 - Plastics News March 2017

CoMPANy NEWS

Total and Petrobras confirm Strategic Alliance

etrobras and Total have signed definitive contracts already executed on the 21st of December, such as: (i)
Pin relation to the package of assets contemplated option for Petrobras to purchase 20% interest in block 2
in the Strategic Alliance, as defined in the 21st of Dec., of the Perdido Foldbelt area, in the Mexican sector of
2016 Agreement. The contracts signed seal the Strategic the Gulf of Mexico, (ii) joint exploration studies in the
Alliance between the two companies creating new exploratory areas of Equatorial Margin and in Santos Basin;
partnerships in the Upstream and Downstream sectors, and (iii) Technological partnership agreement in the areas
together with a reinforced technical cooperation covering of digital petrophysics, geological processing and subsea
operations, research and technology. This alliance should production systems .
allow both companies to combine their internationally
recognized expertise on all segments of the oil Asahi Kasei, Bluestar plan
and gas value chain in Brazil
and internationally. Through mPPE JV in China
these contracts Petrobras will Asahi Kasei has concluded a joint venture agreement
transfer 22.5% of rights to Total with ChemChina subsidiary China National Bluestar Co.,
in the concession area named Iara Ltd., for the integrated production and sale of Xyron
(comprising the Sururu, Berbigão modified polyphenylene ether
and Oeste de Atapu fields which are under unitization (mPPE) in China. Production
with the Entorno de Iara, a transfer of rights area in of intermediate materials
which Petrobras holds 100% interest) in the Block BM- including 2,6-xylenol and
S-11. The partnership with Total will allow Petrobras to polyphenylene ether (PPE)
reduce its investment and benefit from technological is also included in the agreement, A final investment
solutions that will be jointly studied between Petrobras decision will depend on antitrust clearance, procedures
and total, maximizing profitability and the volume of
oil to be recovered. BG E&P Brasil, a Royal Dutch Shell to establish the joint venture, and evaluation of the
subsidiary, with 25% and Petrogal Brasil, with 10%, also economics of the joint business. The move is part of
take part in the consortium. Petrobras will transfer 35% Asahi Kasei’s medium-term management initiative “Cs
of rights to Total, in the Lapa field concession area, in for Tomorrow 2018”, which envisages expansion of its
Block BM-S-9 and will also transfer the operatorship to engineering plastics business in the material sector, with
Total whereas Petrobras will remain in the license with particular focus on automotive applications. According
10%. The Lapa field has been put in production in Dec, to Asahi Kasei, Xyron mPPE, in particular, is expected to
2016. Total, as new operator of this field, will bring to enjoy strong demand growth in China in environmental
the Consortium its valuable experience in deep-offshore and energy applications such as electric vehicle battery
projects to manage the next phases of the challenging modules and solar panel components. Currently, Asahi
development of the Lapa field as it presents distinct Kasei manufactures intermediate materials for mPPE in
characteristics from other pre-salt fields.The other Singapore, and its global production capacity for Xyron
partners are BG E&P Brasil, a Royal Dutch Shell subsidiary, is 62,000 tonnes per year. The joint venture is scheduled
with 30% and Repsol-Sinopec Brasil, with 25%. Petrobras to be established in August 2017, with final investment
will transfer 50% interest to Total in Termobahia composed decision set for March 2018. once completed, the
of 2 cogeneration plants, Rômulo de Almeida and Celso plant will produce 20,000 tonnes per year of mPPE and
Furtado, located in Bahia area. The two plants are 30,000 tonnes a year of PPE and 2,6-xylenol. The joint
connected to the regasification terminal located in São venture with Bluestar will enable Asahi Kasei to expand
Francisco do Conde, also in Bahia where Total will take its business for mPPE in the strategically important
regasification capacity to supply gas to the power plants. Chinese market. Bluestar is China’s only manufacturer
It will represent an innovative partnership in the Brazilian of 2,6-xylenol and PPE and is seeking to expand capacity
G&P market. The above contracts adds up to the ones to meet growing demand.

17 March 2017 | Plastics News