Greater China

COOEC to spend RMB1.4bn on new offshore vessel

Shanghai: China Offshore Oil Engineering Co (COOEC) announced that the board has agreed its fully controlled subsidiary COOEC Subsea Technology to acquire a multi-purpose offshore engineering vessel for RMB1.4bn.

COOEC said the acquisition of the vessel is to meet the rising demand from the company’s oil and gas exploration projects and subsea engineering projects in South China Sea and East China Sea. [25/07/14]

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