Hilong wins CNOOC's offshore contract

Hong Kong-listed Hilong Holding (Hilong) said its subsidiary, Hilong Marine Engineering (Hong Kong), has won a bid recently to provide offshore pipe-laying services to CNOOC China, a wholly-owned subsidiary of CNOOC.

Hilong will use its pipe-laying vessel, Hilong 106, in the Phase II of Weizhou Project developed by CNOOC, a stock filing of the company said yesterday.

The service contract was valued at $29.8M. The contract is expected to be completed by mid-July 2015.

"The contract with renowned producer of offshore crude oil and natural gas marks a breakthrough of the offshore engineering services segment of the group," the company said.

"It also demonstrates the company's established relationships with large oil producers and has proven their recognition. The board considers that the contract has injected new impetus to the offshore engineering services segment of the group and is also in line with the development prospects of the group."