CNOOC Subsidiary to Build Specialized Pipe-Laying Vessel
China Offshore Oil Engineering Co (COOEC), a subsidiary of CNOOC, has announced its plans to construct a dedicated pipe-laying vessel.
The company has disclosed that the pipelayer will be funded by COOEC’s own resources, with a total investment of approximately RMB 1,375,256,800 ($188.4 million). The board of directors has approved the project.
The vessel is designed to operate primarily in domestic waters while also considering the international market. It will have the capability to lay sea pipes ranging from 4 to 60 inches in diameter, as well as offer services such as double-node pipeline laying and submarine pipeline maintenance.
Expected to be completed by June 2028, the shipyard responsible for the construction has not been disclosed. COOEC anticipates a payback period of 13.65 years, indicating what the company deems as ‘good economic viability’.