Fluor teams up with China’s COOEC
ZUHAI, August 20, 2015 – The offshore division on US engineering conglomerate Fluor has entered a joint venture with China’s Offshore Oil Engineering Company (COOEC). The deal will see Fluor manage COOEC’s fabrication facilities in Zuhai, Guangdong province.
COOEC is China’s top offshore engineering, procurement, construction and installation contractor. Its parent company, the state-run China National Offshore Oil Corporation, will own a 51-percent stake in the new venture – COOEC-Fluor Offshore Heavy Industries – and Fluor will hold the remaining 49 percent.
The move will provide Fluor with an entry into the Chinese and broader Asian markets, while COOEC seeks to benefit from the former’s managerial and technical expertise. The Zuhai facility is one of the four production yards COOEC owns in China. Spanning 2.07 square kilometres, it has three slipways and four workshops, and is currently constructing one of the four platforms for Thailand’s state-owned PTT Public Company’s Zawtika 1B gasfield development offshore Myanmar.
In September 2013, COOEC signed a five-year joint venture agreement with French engineering and construction giant Technip to develop deepwater infrastructure projects.
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