BEIJING, Sept. 2 (Greenpost) – China National Offshore Oil Corporation (CNOOC), the parent company of China’s largest offshore oil and gas producer CNOOC Ltd. (CEO.NYSE; 00883.HK), would add 114 maritime engineering equipment in 2016-2020 with investment of 65.6 billion yuan, said Zeng Hengyi, deputy general engineer with CNOOC on Tuesday.

Speaking at a maritime equipment exhibition in Qingdao, Zeng said 42.5 billion yuan would be invested in deepwater engineering equipment in the period, accounting for 65 percent of total.

Investment in deepwater engineering equipment is likely to account for over 70 percent of CNOOC’s total investment in maritime engineering investment by 2030, according to Zeng.

China needs to develop semi submersible drilling platform of the seven and half generation and deploy four special deepwater projects in the South China Sea, said Zeng.

The process of offshore exploration and development would not be changed though fall of oil prices in the short term would weigh on maritime engineering industry, said Liu Heyin, an official with shipbuilding and maritime engineering operations of Siemens. (Edited by Liu Yanan, liuyn@xinhua.org)

Source Xinhua

Editor Xuefei Chen Axelsson