Accompanied by Mr. Nabil Al Nuaim, president of Saudi Aramco Asia Co., Ltd., Mr. Said A. Al-Hadrami, vice president of Saudi Aramco International Operations and Mr. Warren W Wilder, vice president of Saudi Aramco Chemicals paid a visit to FREP on October 26. Gu Yuefeng, FREP chairman of the board & president and Nouraddin A. Yousuf, vice president of FREP cordially met with the delegation of Mr. Said A. Al-Hadrami and Mr. Warren Wilder and had a friendly talk with them.

First of all, President Gu Yuefeng, on behalf of FREP OOP, welcomed Mr. Said A. Al-Hadrami and Mr. Warren Wilder’s visit to FREP. He said that FREP continuously improved HSE performance, promoted OIMS system in accordance with BOD decisions and deployment and strictly followed requirements of state laws and regulations. He noted that the whole company, from senior management to grassroots, attached great importance to HSE, focused on safety behavior and equipment unsafe status. Many improvements had been made in production operations and historic optimum benefit was achieved. In particular, many efforts were taken in ethylene chain and great achievements had been scored. Last month, Solomon and PTAI visited FREP for industrial benchmarking, concluding that FREP most indicators were in industrial first group this time, which had significantly inspired all FREP employees. FREP financial status and capital flow were in good operations. 

President Gu Yuefeng pointed out that the joint venture is faced with severe situations now. Surrounding petrochemical enterprises are continuously expanding their capacities, but the market in Fujian Province is not large enough, so the competition is quite fierce. FREP must improve the product quality and criteria to seize the market, including provision of convenient and premium services and etc. In addition, as China laws and regulations are getting more and more stringent with petrochemical products, president Gu Yufeng hoped that both Sino and foreign shareholders could attach great importance to the development of FREP joint venture in the future, adequately take account of and give full play to the advantages of FREP and Sinopec Senmei (Fujian) Petroleum Company Limited in terms of integrated production and sales. He remarked that FREP OOP was confident to focus on production operations and endeavor with the management to capture the market opportunities, optimize the product mix, strive for more profit, repay all shareholders with maximized benefit and expect great support and assistance from all shareholders.

Mr. Said A. Al-Hadrami said that he had ever visited FREP more than ten years ago and was very delighted to see that great changes had taken place with FREP when he came here for a second time. He highly recognized good benefit achieved by the joint venture this year and appreciated OOP for its unremitting efforts. He said that the major concerns and priorities mentioned by president Gu were also coincident with his viewpoints. It was very common that difficulties and different opinions might be encountered in the course of joint venture and cooperation. The key was that we could follow the principle of “joint venture and cooperation for win-win development”, communicate and exchange ideas in a timely manner, jointly find out problems, cooperate with all efforts and reach a consensus among foreign and Sino parties, thusly offering advices and making contributions to development of the joint venture in the future. He hoped that FREP could continuously focus on HSE and reliability and the financial status could remain favorable situations. He also expected that all shareholders could further intensify cooperation to facilitate continuous improvement of the joint venture performance and benefit.

FREP T&P GM Mr. Hussain A Sughaiyer and S&D GM Mr. Saleh Zaid accompanied the meeting. （Xiao Wanyuan）