(I) Primary business
COOEC, a listed company controlled by China National Offshore Oil Corporation, is the only large-scale engineering general contracting company integrating the design, procurement, construction, offshore installation, commissioning and maintenance of offshore oil and gas development engineering, as well as liquefied natural gas, offshore wind power, refining and chemical engineering in China, and is also one of the largest and strongest offshore oil and gas engineering general contracting companies in the Asia-Pacific region. COOEC is headquartered in Binhai New Area, Tianjin?and was listed on?the Shanghai Stock Exchange in February 2002 (stock abbreviation: COOEC, stock code: 600583).
With more than 10,000?employees, COOEC has formed?an all-around, multi-level and broad-field professional team suitable for EPC. With world-class qualifications and design capabilities, the Company has large-scale?offshore engineering manufacturing bases in Tianjin?Binhai New Area, Qingdao?in Shandong Province, Zhuhai?in?Guangdong?Province, among other locations. Covering?a total area of about 4 million square meters, these bases form?a globally oriented?site layout that spans northern?and southern China, offers complementary functions, and supports both deep and shallow?water?operations. With a professional offshore construction fleet consisting of 19 vessels, including Class-3 dynamic positioning deep-water pipe-laying vessels and 7,500-ton crane vessels, its offshore installation and pipe-laying capabilities are in a leading position in Asia.
After more than 40 years of construction and development, the Company has?defined?its vision of "building a world-class marine energy engineering company with Chinese characteristics" and its development strategy of "taking marine and energy engineering construction led by design as the sole core, building management capabilities and technological leadership as the two foundations, pursuing internationalization, deep-water operations, and new industrialization as the three development directions, and focusing on talent, market, digital intelligence, cost, and risk control as the five key drivers." It has systematically developed ten major equipment systems centered on "large-scale lifting and pipe-laying vessel series," "1,500-meter-class deep-water operation ROV series," "construction sites and construction equipment," and ten major technologies centered on "deep-water floating production platform technology," "subsea systems and product technology," and "ultra-large offshore structures and modular technology." The Company has provided high-quality products and services to numerous domestic and international clients, including CNOOC, ConocoPhillips, Shell, Saudi Aramco, QatarEnergy, Petrobras, MODEC, and Fluor, with its business spanning over 20 countries and regions.
The Company has been included?in ENR's Top 250 International Contractors and Top 250 Global Contractors for three consecutive years.
(II) Business model
The Company undertakes engineering contracts through EPCI or subcontracting, participates?in the construction of offshore oil and gas field projects, LNG, FPSO, offshore wind power, and other related projects?and provides?clients with "turnkey" projects. Driven by market demand, the Company incubates technologies and products, leveraging its "technology + product" soft capabilities along with its?comprehensive product system to establish standardized product packages tailored to different regions and client needs.
Driven by technological innovation and industrial model transformation, the Company is accelerating its transformation into a world-class engineering, procurement, and construction contractor. Its business structure is rapidly shifting toward low-carbon and green initiatives, as well as full industrial integration. The production model is accelerating its transition toward standardization?and digital intelligence. The business model is evolving from "project-driven" to "product-driven," and expanding from "single-product-driven" to "series-product-driven." By enhancing value creation capabilities?across all dimensions, the Company provides "all-in-one" solutions in marine and energy engineering for its clients.
Offshore Oil Engineering Co., Ltd. is a listed company controlled by China National Offshore Oil Corporation. It is the only large general contracting company in China with capacities to undertake the design, procurement, construction, offshore installation, commissioning and maintenance of offshore oil and gas development projects, as well as the liquefied natural gas, offshore wind power, refining and chemical projects, etc. It is also one of the largest and the most competitive EPCI (engineering, procurement, construction and installation) contractors of offshore oil and gas projects in the Asia-Pacific region. The Company is headquartered in Binhai New Area, Tianjin. It was listed on Shanghai Stock Exchange (Stock Short Name: COOEC, Stock Symbol: 600583) on February 2002.
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