Technip, COOEC Form JV to Tap Deepwater Market in China

Technip announced Friday that the company and China Offshore Oil Engineering Co. Ltd (COOEC), the largest offshore engineering and construction company in China, have signed an joint-venture agreement in September.

The five-year agreement, which builds on existing relationships, combines the know-how, technical resources, complementary assets as well as commercial and financial capabilities of both companies to target deepwater engineering, procurement, construction and installation (EPCI) Subsea Umbilicals Risers and Flowlines (SURF) projects at a water depth greater than 1,640 feet (200 meters) in China.

This agreement follows the successful award, at the end of 2012, to the COOEC-Technip Consortium of the CNOOC Panyu 34-1/2 development project.

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