China News

 

CNOOC starts at Panyu

Apr 25, 2016

China National Offshore Oil Corp. (CNOOC) has started production at its Panyu 11-5 field in the South China Sea. Panyu is loctated in the Pearl River Mouth basin in 110m water depth.  While there is currently one well producing approximately 3270 b/d…

Aqualis, CSCD join engineering forces

Apr 21, 2016

Aqualis Offshore and China Ship Design & Research Center Co. (CSDC) have signed an agreement to cooperate on engineering projects both in China and internationally.  CSDC specializes in shipbuilding and offshore engineering services.…

CIMC mates latest Frigstad ultra-deepwater rig

Mar 31, 2016

Frigstad Kristiansand, the second ultra-deepwater semisubmersible drilling rig build by CIMC Raffles for Frigstad, completed mating in Yantai Shipyard, China, yesterday. As one of the deepest operating and drilling semisubmersible rigs…

CNOOC falls 66% in 2015

Mar 28, 2016

China National Offshore Oil Corp. (CNOOC) may have made 16 new discoveries and appraised 23 oil and gas structures in 2015, but also experienced a net profit decline of 66.4% year-on-year to US$3.1 billion. Liuhua operations…

Schlumberger, Cameron win Chinese approval

Mar 25, 2016

The Chinese Ministry of Commerce (MOFCOM) has cleared Schlumberger and Cameron's proposed US$14.8 billion merger without any conditions. This approval from China's antitrust regulator, MOFCOM, represents the last major hurdle towards closing the deal…

Petrobras inks US$10 billion Chinese finance deal

Feb 29, 2016

Petrobras entered into a US$10 billion financing deal with China Development Bank (CDB) that includes a trade agreement for the Brazilian giant to supply oil to Chinese companies. Image from Petrobras…

Deepwater gas find for CNOOC

Feb 29, 2016

China's CNOOC has laid claim to the the country's first ultra-deepwater gas discovery in the northwestern part of the South China Sea. The Lingshui 18-1-1 exploration was drilled in 1688m (5538ft) water depth and has been certified as a discovery by the Ministry of Land & Resources…

Aqualis inks Cantex FPSO MWS work

Feb 25, 2016

Cantex Global Logistics awarded offshore marine and engineering consultancy Aqualis Offshore a contract to provide the marine warranty surveyor (MWS) services for FPSO P67 and P70 topside modules transportation from various Brazilian ports to COOEC’s yard in Qingdao…

China offers 18 offshore blocks

Feb 25, 2016

A total of 18 blocks are up for bid for exploration in 2016 to international oil and gas companies wanting to partner with operator China National Offshore Oil Co. (CNOOC). Map of blocks up for bid…

MacGregor, COSCO ink Pusnes deal

Feb 18, 2016

MacGregor signed a contract to supply its Pusnes technology to the COSCO Shipyard Group in China. Upon the terms of the agreement, MacGregor will design, manufacture, deliver and commission complete Pusnes loading systems for two cargo transfer vessels (CTVs)…

Wärtsilä to design new type of deepwater DSV

Feb 17, 2016

Wärtsilä entered into a contract with Shanghai Bestway Marine Engineering Design Co. last month to design a new type of deepwater dive support vessel (DSV) for China state-owned company Shanghai Salvage Bureau (SSB). Image from Wärtsilä…

IEA: Global oil demand to decline considerably

Feb 09, 2016

In the International Energy Agency’s (IEA) oil market report for February 2016, signs of a demand slowdown surface, with higher OPEC output only partly offsetting non-OPEC decline. Having peaked, at a five-year high of 1.6 MMb/d in 2015…

Fighting for survival

Feb 01, 2016

So much for a happy new year! The first few weeks of 2016 have given no cause for cheer with crude falling a further 20%, more job losses, and further project delays or cancellations. Colin Welsh…

ABB software for Ultra Deep Solutions' newbuilds

Feb 01, 2016

Power and automation firm ABB is to provide software for three newbuild deepwater subsea construction vessels being built by new company Ultra Deep Solutions. Ultra Deep Solutions was set up in 2014, by industry veteran Sheldon Hutton…

Nylacast to open China facility

Jan 28, 2016

Leicester-based engineering polymer firm Nylacast is to open a new production facility in China following a £12 million (US$17.21 million) funding deal from Santander Corp. & Commercial.  Nylacast supplies high performance engineering polymers and finished components to the oil and gas…

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