CNPC offshore engineering unit makes foray into Southeast Asia

CNPC Offshore Engineering (CPOE) has made its first foray into Southeast Asia’s offshore drilling services sector, securing a foothold in the international high-end offshore drilling market. The project, valued at over $140 million, has a term of four years.

This is the first international offshore drilling project of CPOE in the middle and high-end market. After the platform arrived at the shipyard, the project teams segmented the project into multiple aspects. Over the course of more than four months, they focused on quality control, safety management, design optimization and process improvements.

The project has been launched at a time when the international offshore oil and gas exploration sector has been witnessing sustained expansion, with roughly 30 percent of global oil and nearly 50 percent of natural gas reserves located offshore.

Over 60 percent of China’s new crude oil output came from offshore production last year, reinforcing the ocean’s role as the backbone of the country’s energy expansion, according to the Ministry of Natural Resources.