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Offshore Oil Engineering Co., Ltd.

Offshore Oil Engineering Co., Ltd. (COOEC) is the largest offshore engineering and construction company in China for integrated services through engineering design, onshore fabrication and offshore installation and maintenance for oil and gas exploration and production, underwater engineering, mid and downstream, and alternative energy projects. It is one of the largest offshore EPCI contractors for offshore oil and gas exploration and production projects in the Asia-Pacific region. It was listed on the Shanghai Stock Exchange in February 2002(Stock Code: 600583).

COOEC is an engineering company in China with the most complete qualifications for offshore engineering, and its engineering design has reached world advanced levels. The company took reducing cost and increasing profit in the offshore oil and gas, and LNG projects as the main way to build EPCI (engineering,procurement, construction, installation) capability so as to lead the offshore oil engineering industry in the Asia-Pacific region. COOEC possesses the Tanggu fabrication yard, the Qingdao fabrication yard, the Huizhou fabrication yard and part of the Zhanjiang fabrication yard, with a total area of nearly 2 million square meters.

COOEC has provided quality services to many clients including CNOOC Ltd., Phillips, Kerr-McGee, Chevron, Total, CACT, Arco, BP, Shell, BHP, Japan-China Oil Company and Hyundai Heavy Industries. It has conducted operations in offshore China as well as the Middle East, Southeast Asia and South Korea, and won honors for being a Quality Project, Safe Operation and the Best Contractor from international energy companies like Kerr-McGee, Shell, Philips and Arco. COOEC was chosen as one of the Most Valuable Listed Companies in China by CCTV for three consecutive years and one of the Global challengers by the Standard & Poor's.

In 2012,the operational efficiency and capacity of the companyachieved historic record. The offshore jacket installation for Bozhong 25-1 South and Panyu4-2, jacket sliding and launching for Panyu 5-1 andonshore jacket construction for Lishui 36-1 completed ahead of schedule. The pipe laying for Liwan 3-1 inboth shallow water and deepwater sections gained the highest efficiency in the company's history. Asia's largest jacket was successfully installed in Liwan 3-1deepwater gas field, showing that our capacity of construction, shipping, transportation, launching oflarge structures for the first time exceeded 30,000tonnes. Our large-scale operating ship fleet forthe first fleet entered the Arabian Sea, achieving a breakthrough in long distance towage transport.

Our manufacturing and debugging capabilitiescontinue to increase for the high-end skid-mountedequipment. The amount of orders of skid-mounted products grew to more than RMB 500 million. Thecompany obtained and completed its first generalcontracting project of saturation diving jacket detection and obtained general contracting forTianjin floating LNG project and a part of Shandong Yantai oil tank construction project.The company strengthened the engineering team building and overseas project management,and actively expanded overseas markets such as Australia, Russia and Saudi Arabia. In 2012, 15% of engineering contracts were signed for overseas business.