Technip, COOEC form JV to address China’s booming deepwater market

12/23/2013

Technip, COOEC form JV to address China’s booming deepwater market

PARIS -- Technip and China Offshore Oil Engineering Co. Ltd (COOEC), the largest offshore engineering and construction company in China, signed a joint-venture agreement in September.

The five-year agreement, which builds on existing relationships, combines the know-how, technical resources and complementary assets as well as commercial and financial capabilities of both companies to target deepwater engineering, procurement, construction and installation (EPCI) of Subsea Umbilicals, Risers and Flowlines (SURF) projects at a water depth greater than 200 m in China.

This agreement follows the successful award, at the end of 2012, to the COOEC-Technip Consortium of the CNOOC Panyu 34-1/2 development project.

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