CNOOC Energy Technology and Services Limited, a subsidiary of China National Offshore Oil Corporation (CNOOC), and private technology and service supplier MSP/DRILEX (Shanghai) Co., Ltd. have set up a joint venture on deepwater equipment research and development (R D), said a recent release by CNOOC.
Located in Shanghai, the JV is tasked to develop chore equipment for deepwater drilling and development and form integrated building and technological service with offshore oil and gas fields.
As a part of drive to develop mix-owned economy, the JV is designed to leverage CNOOC's strength in management and technological advantage of MSP/DRILEX. Both sides inked a strategic cooperation agreement in November 2014 and MSP/DRILEX undertook the testing and optimization of underwater production system with deepwater gas field Liwan 3-1 and other surrounding gas fields.
The JV was registered on September 17 with registered capital of 200 million yuan, according to Shanghai Administration for Industry and Commerce.
Latest comments