Sinopec Shanghai Petrochemical Co. (ADR) (NYSE:SHI) is planning to spend $30 billion on a global expansion drive in a bid to bolster its energy reserves. The investment is double the amount of money the company spent between 2010 and 2015 all but affirming how aggressive the company is as it seeks to shore up reserves and returns.

Egypt Venture Success

The state-owned oil and gas company boasts of 50 projects spread in over 20 countries. Ramping up investment, in this case, should help bolster the Chinese government push to strengthen its influence on the international scene. The investment is also part of an effort that seeks to pursue new opportunities on the global scene as growth back at home continues to slow.

Sinopec Shanghai Petrochemical Co. (ADR) (NYSE:SHI) ramping up investments on the international scene does not come as a surprise given that it has the financial muscle backed by a balance sheet that has about $19.56 billion in cash. A $3 billion investment in Apache’s Egypt business in 2013 is the company’s biggest investment to date on the international scene.

We think this policy is very good — we have enjoyed the benefits of China opening up over time For Sinopec Shanghai Petrochemical Co. (ADR) (NYSE:SHI), this presents us favorable opportunities, said Sinopec’s Director Dai Liqi.

Global expansion

It appears the company has been swayed to pursue opportunities on the international scene having enjoyed immense success with the Egypt business. The success came at the back of one of the worst runs in the energy sector seen by oil prices plunging to decade lows of $26 a barrel. Amidst uncertainty in the industry and production cuts by other oil giants, Sinopec maintained production at highs of 350,000 barrels on its Egypt assets consequently turning in a profit of $620 million.

Over the last three years, Sinopec Shanghai Petrochemical Co. (ADR) (NYSE:SHI) has invested $1 billion on It Egypt venture as part of its global expansion plan. The company has also opened talks about the possibility of investing billions on the development of a petrochemical refinery in the Suez Canal buoyed by the success so far.

 In addition to pursuing opportunities on the international scene, Sinopec Shanghai Petrochemical Co. (ADR) (NYSE:SHI) is also maintaining a close watch on its operations back at home. The company has already begun developing the country’s largest natural gas storage and logistics facility in Henan province. The development of the facility is part of an effort that seeks to take advantage of the going focus on clean energy as the government ramps its efforts to curb emissions.

Sinopec Shanghai Petrochemical Co. (ADR) (NYSE:SHI) aggressive investment has helped bolster its sentiments among investors seen by the stock gaining 4.31% over the last three months, the overall industry, having tanked by 4.24%.

Sinopec Shanghai Petrochemical Co. (ADR) (NYSE:SHI) stock was down by 3.54% in Friday trading session consequently ending the week at $56.17 a share.