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. 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. The Qingdao fabrication yard is the largest manufacturing site of offshore oil engineering steel structures in the Asia-Pacific region with 17 engineering vessels including Lanjing, the 7500-ton floating crane with the world's largest lifting capacity, and its offshore installation and pipe-laying capacity holds a leading position in Asia.
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.
COOEC managed to ensure the safe and smooth operation of each of its production and construction projects under the extremely challenging circumstances with volatile operating results. COOEC's overseas orders amounted to RMB2.934 billion, accounting for 39% of its total orders for the year. COOEC continued to improve its infrastructure and equipment, aiming at enhancing its core competitive edge. Its key project "Hai Yang Shi You 226" began service and the 3,000 meter deepwater pipe-laying ship "Hai Yang Shi You 201" was completed and left the dock, and the Zhuhai Deepwater manufacturing base was in smooth progress.
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