CNOOC Picks Up SeaMetric's Heavy Lift System

China National Offshore Oil Corporation has nominated SeaMetric's TML System as its preferred heavy lift tool in its new 5-year strategic plan and has requested SeaMetric to commence engineering work for a major marine heavy lift project.

Activity in the Chinese offshore business is expanding rapidly and China National Offshore Oil Corporation (CNOOC) is the undisputed market leader in this development. Through its strengthened relationship with CNOOC, the Norwegian heavy lift venture SeaMetric has positioned itself and its Twin Marine Lifter (TML) System for the expected growth in the Chinese and East Asian heavy lift market for the years ahead.

CNOOC’s affiliate COOEC and SeaMetric are in the process of establishing a jointly-owned Operating Company for the first TML System, which is scheduled to be delivered in Q4 2009. The new Operating Company will initially operate in the North East Asia Pacific region and will be fully established by December 2008. However, starting in July 2008, COOEC and SeaMetric will jointly initiate engineering and planning work for a major marine heavy lift project offshore China.

The TML System will have a static lift capacity of 20,000 tonnes. In addition to providing the TML System, SeaMetric will contribute with operational management and specialist engineering expertise. SeaMetric has received funding for the study for this marine heavy lift project offshore China from Innovation Norway, a Norwegian state owned company promoting industrial development.