Zanki, KPC Chief Executive Officer (CEO), after the signing of the MOU. “Total, with its long experience in the Downstream business in China coupled with know-how in Refining and Petrochemicals operations, will add value to the China project. Moreover Total and KPC's strategic objectives in Guangdong are highly aligned,” he added. “Total is pleased to have been selected by Kuwait Petroleum Corporation as its preferred partner to participate in the project of a top-performing refining and petrochemicals platform with Sinopec in China. This agreement will be the keystone of a long-term relationship with KPC,” said Christophe de Margerie, Total Chairman and Chief Executive Officer. “The project is in line with our strategy of expanding in growth markets, based on a few highly competitive and integrated platforms,” he adds. KPI, PIC and Total have agreed to form a consortium, which will potentially hold interests in two joint-ventures together with Sinopec. The MOU sets forth the agreement among KPI, PIC and Total regarding the development of the project. KPI is the international Refining and Marketing arm of Kuwait Petroleum Corporation. PIC is the petrochemical arm of Kuwait Petroleum Corporation.
