On July 18, 2024, COOEC announced its success in winning the EPCIC (engineering, procurement, construction, installation, and commissioning) contract for Phase-4 of the SHWE project. This marks that, for the first time, a Chinese company has secured an EPCIC contract for a 1,000-meter deepwater oil and gas project in the overseas market.
POSCO International is the operator of SHWE Phase-4 project with a maximum water depth of 1,050 meters. As an EPCIC contractor, COOEC will provide a comprehensive solution including project management, engineering, procurement, construction, transportation, installation, and pre-commissioning. COOEC succeeded in the competitive front-end engineering design contract bidding in September 2023. By demonstrating its strong technical capabilities and management expertise, the company emerged as the winning bidder from a pool of renowned international contractors, securing the EPCIC contract. It is the first time a Chinese company has been contracted to provide "one-stop solution" encompassing front-end engineering design and EPCIC services in the international offshore oil and gas engineering market.
In recent years, COOEC has successfully executed several deepwater oil and gas engineering projects, including the world's first 100,000-ton semi-submersible production and storage platform "Deep Sea No. 1" Energy Station, Asia's deepest water jacket platform "Haiji No. 2," and Asia's first cylindrical FPSO "Haikui No. 1." These achievements have established a comprehensive set of deepwater oil and gas engineering technologies, exemplified by the design, construction, installation, and commissioning of deepwater floating production facilities. Additionally, COOEC boasts a fleet of specialized construction equipment, including five 3,000-meter-class deepwater engineering vessels.
COOEC has successfully carried out several projects in the Asia-Pacific region, including the development of the MADURA BD gas field in Indonesia, the ZAWTIKA oil field development, and the decommissioning of the SKL-C platform for Thailand's CEC company. The company's project execution and delivery capabilities have been highly recognized.
