China's COOEC seals $4bn QatarEnergy project contract
China Offshore Oil Engineering Company (COOEC), a key subsidiary of leading global energy company China National Offshore Oil Corporation (CNOOC), has signed an engineering, procurement and construction (EPC) contract worth upto $4 billion for work on QatarEnergy’s Bul Hanine offshore oil field.
This is the largest contract value secured by a Chinese company for an offshore oil and gas engineering project in the Middle East, said senior officials at the kick-off meetings for the Qatar Bul Hanine project held in Tianjin and Singapore.
This project will propel China-Qatar energy co-operation to new heights and holds significant importance for advancing high-quality international oil and gas collaboration under the Belt and Road Initiative, they stated.
The project scope includes providing the design, procurement, construction, transportation, installation, and commissioning services for more than 60 individual offshore oil and gas facilities and 40 subsea pipelines and cables, said COOEC in a statement.
The work also involves retrofitting of existing platforms and decommissioning of abandoned platforms, it stated.
A major project for QatarEnergy, it is located in the Bul Hanine (BH) oilfield in the Gulf waters, about 100km east of the Qatari coastline, with a maximum water depth of 40m.
According to COOEC, the project will set the record for both the breadth of business categories and the complexity of work involved and will entail the processing of over 130,000 tonnes of steel.
The entire project work is scheduled for completion by mid-2031, it added.-TradeArabia News Service