Petrofac, the international oil & gas facilities service provider, and China Petroleum Engineering & Construction Corporation (CPECC), the engineering and construction subsidiary of China National Petroleum Company (CNPC), have established a new strategic joint venture, "China Petroleum Petrofac Engineering Services" (CPPES). The joint venture, which has been set up as a Dutch holding structure, will provide project management and engineering services for selected oil & gas projects, focusing on projects for Chinese oil & gas companies.

Petrofac and CPECC have a long-standing relationship and track record of cooperation, most recently being jointly awarded an inspection, maintenance and repair contract for the Rumaila oil field in Southern Iraq.Together, CPECC and Petrofac have considerable resources and world-class engineering and construction expertise in the oil & gas market.
 
Loyens & Loeff acted as project counsel in respect of the above mentioned joint venture. The team of Loyens & Loeff consisted of Peter Corten (partner corporate), Menso Brouwer (senior corporate) and Michiel Beudeker (senior tax).
 
Value undisclosed.
 
19 September 2011