CNOOC Engineering funds deepwater project

CNOOC Engineering announced that the company plans to increase RMB100m in capital to its Zhuhai subsidiary for its Zhuhai deepwater offshore engineering equipment manufacture project.

The capital injection is to help the company further expand development of its deepwater business and improve the core competitiveness, said CNOOC Engineering. The company plans RMB3.5bn investment in  the Zhuhai project in all.

CNOOC deepwater engineering base is located at Zhuhai Gaolan, focusing on the development and production of deepwater floating platform and offshore oil and gas facilities.