Technip, HQC Create JVs to Boost Access to European, Chinese Markets



Technip announced Tuesday that its operating center in Rome, Italy, has signed an agreement with China Huanqiu Contracting & Engineering Corporation (HQC), an enterprise affiliated with China National Petroleum Company, to set up two joint-venture companies. Headquartered in Rome and Beijing, China, they will be responsible for procurement activities, respectively on the European and Chinese markets.

These companies will perform procurement activities for worldwide onshore and offshore projects.

By establishing a local presence, and thus eliminating the cultural and language barriers, these new companies will allow an immediate knowledge and access to the local suppliers market, based on Technip and HQC’s experience.

Marco Villa, senior vice president of Technip Region B, commented: “Formalizing our cooperation with HQC, with which we have been collaborating for 25 years, will help us expand business development opportunities on the international oil & gas market, especially in China, and deliver added value to our clients.”

Wang Shihong, president of HQC, declared: “With those two new companies, we will take advantage of the existing synergies between HQC and Technip to facilitate and increase commercial access to the European and Chinese markets: we will benefit from Technip's multi-local network of European suppliers and vice versa.”



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