On November 11th, 2009, Fujian Refining & Petrochemical Company Limited (FREP) announced that Fujian Integrated Refining & Ethylene Joint Venture Project officially goes into commercial operation.

A ceremony on the morning of November 11th marked the construction completion and full operation of a world-scale integrated refining & petrochemical complex. Mr. Jia Qinglin, member of the Standing Committee of the Political Bureau of the CPC Central Committee and Chairman of the 11th Chinese People’s Political Consultative Conference, Mr. Xi Jinping, member of the Standing Committee of the Political Bureau of the CPC Central Committee, member of the Secretariat of the CPC Central Committee and Vice President of PRC, Mr. He Guoqiang, member of the Standing Committee of the Political Bureau of the CPC Central Committee and Secretary of the Central Commission for Discipline Inspection, Mr. Wang Zhaoguo, member of the Standing Committee of the Political Bureau of the CPC Central Committee, Vice Chairman of the Standing Committee of the 11th National People's Congress and Chairman of the All-China Federation of Trade Unions, Mr. Zhang Dejiang, member of the Political Bureau of the CPC Central Committee and Vice Premier of PRC conveyed congratulatory messages. Dignitaries at the ceremony included Mr. Sheng Huaren, Vice Chairman and Secretary General of the 10th National People’s Congress National Committee, PRC; Mr. Chen Jinhua, Vice Chairman of the 9th Chinese People’s Political Consultative Conference National Committee, PRC; Mr. Ali I AI-Naimi, Minister of Petroleum and Mineral Resources, Saudi Arabia; Mr. Lu Zhangong, Secretary of CPC Fujian Provincial Committee and Director of Fujian Provincial Standing Committee of People’s Congress; Mr. Huang Xiaojing, Governor, Fujian Province; Mr. Su Shulin, President, China Petrochemical Corporation (Sinopec Group) and Chairman, China Petroleum & Chemical Corporation (Sinopec Corp.); Mr. Wang Tianpu, Vice Chairman and President, Sinopec Corp.; Mr. Rex W. Tillerson, Chairman and CEO, Exxon Mobil Corporation; Mr. Sherman Glass, Vice President, Exxon Mobil Corporation and President, ExxonMobil Refining and Supply Company; Mr. Khalid A. Al-Falih, President and CEO, Saudi Aramco and Mr. Khalid G. Al-Buainain, Senior Vice President, Refining, Marketing and International, Saudi Aramco. Other representatives from relevant Chinese ministries, Saudi Arabian government, Saudi Aramco, ExxonMobil, Sinopec, Fujian Province, Quanzhou, Project EPC, Engineering\Construction\Supervision Companies, Manufacturers, Vendors, Financial Institutions and Customers were also present.

Mr. Huang Xiaojing, Governor of Fujian Province, Mr. Su Shulin, President of Sinopec Group and Chairman of Sinopec Corporation, Mr. Rex Tillerson, Chairman and CEO of Exxon Mobil Corporation and Mr. Khalid A. Al-Falih, President and CEO of Saudi Aramco addressed the ceremony respectively.

As China’s first integrated refining & petrochemical project with foreign participation, Fujian Integrated Refining & Ethylene Joint Venture Project has expanded the capacity of Fujian’s existing refinery from 80,000 barrels-per-day (4 million tons-per-year) to 240,000 barrels-per-day (12 million tons-per-year). The upgraded refinery primarily refines and processes sour Arabian crude. Additionally, the newly-constructed facilities include an 800,000 tons-per-year ethylene steam cracker, an 800,000 tons-per-year polyethylene unit, a 400,000 tons-per-year polypropylene unit and a 700,000 tons-per-year paraxylene unit as well as a 300,000 DWT crude oil terminal and other utilities.

The advanced process technologies of Fujian Integrated Refining & Ethylene Joint Venture Project also fully reflect the concept of “Promote Green Environment, Provide Clean Energy” jointly advocated by Sinopec, Fujian, Exxon Mobil and Saudi Aramco and commitment to safety & environment. The high integrity of facilities also helps maximizing the resources utilization, i.e. a cogeneration facility generates electricity to satisfy most of the power needs of the complex while at the same time produces steam necessary for running the process units. With cogeneration, FREP achieves greater energy efficiency and reduces greenhouse gas emissions.

The unique advantages of Fujian Integrated Refining & Ethylene Joint Venture Project lie in its adoption of internationally advanced technologies and management expertise, reliable crude supply and proximity to the market along China’s southeastern coast.The completion and commercial operation of the Project provide an impetus for Quanzhou City in Fujian Province to become a world-class base of refining and petrochemicals operations. It also stands to greatly boost the development of China’s petrochemical industry, drive petrochemical industry clusters and downstream industry chains, promote the prosperity on the western bank of the Taiwan Straits and contribute to the sustained, rapid and healthy development of the Chinese economy