China National Offshore Oil Corporation (CNOOC), the parent company of China's largest offshore oil and gas producer CNOOC Ltd. (CEO.NYSE; 00883.HK), has successfully developed a technology of magnetic influx leakage inspection for seabed oil and gas pipelines, said CNOOC on Friday.
CNOOC started a program to develop the technology in cooperation with multiple research institutions, universities and others in March 2012.
The technology would come into preliminary commercialization by the end of 2015 or early 2016.
CNOOC also would further optimize process of operation and data analysis as well as inspector and data analysis system, said the company.
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