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Engineering & Technical Service

Engineering & technical services sector is the solid foundation for the sustainable development of the oil & gas business. Adhering to reducing cost and improving efficiency through safe, quality and well-organized operation, management optimization and risk control, the company highlighted technology innovation and enhanced equipment capacity. In 2015, the segment's technical level was significantly improved, breakthroughs were made in operation capacity, and its international competitiveness was enhanced.

Oilfield Services

China Oilfield Services Limited (“COSL”), with over 50 years’ experience in offshore oil & gas exploration, development and production, is mainly engaged in four business sectors, including drilling services, well services, marine support services and geophysical and survey services, and owns an offshore oil service fleet. COSL not only provides services of single operation for the customers, but also offers integrated project management services. In addition to conducting business activities in offshore China, COSL has extended its services to over 30 countries and regions in Asia-Pacific, the Middle East, America and Europe. It constantly enhances equipment capacity, makes technological breakthroughs and advances international operation level, for which it has been recognized as one of the largest comprehensive offshore oilfield service providers in the world.

In 2015, COSL steadily enhanced its deepwater operation capacity. “Hai Yang Shi You 981” completed its first deepwater operation in the Bay of Bengal, setting a record in the deepwater drilling rig operation with a completed well depth of 5,030 meters; “COSLProspector” completed operation of three wells in the Liwan Area; “COSLInnovator” was awarded Statoil’s first honorary title of “Perfect Well”; sixteen deepwater vessels including “Hai Yang Shi You 691” were successfully delivered, strengthening COSL’s support and service capacity in deepwater operation.

COSL continued to expand the overseas market. In Asia-Pacific, “Hai Yang Shi You 718” won the bidding of Shell’s project of 10,580-kilometer 2D seismic survey in New Zealand; after competing with several international and local contractors, COSL Indonesian Drilling Company won the customer’s recognition with high quality management and good team image and signed the mere 2 offshore drilling contracts in Indonesia; in America, “COSLHunter” won the bidding of PEMEX’s operation project in the Gulf of Mexico, and COSL became one of the largest drilling contractors in the Gulf of Mexico; in Russia, COSL signed the letter of intent for the Sakhalin project after Rosneft’s Magadan drilling project.

In 2015, COSL made a number of technological breakthroughs. COSL’s independently-developed LWD system and RSS were applied in Chengbei oilfield, Caofeidian oilfield and Luda oilfield in Bohai; breakthroughs were made in independent well completion technologies, realizing a localized industrialization of well completion business; progresses were made in well drilling and completion fluid service and well cementing service for the deepwater, ultra-deepwater, high temperature and high pressure, and high sulfur-bearing fields. The application of technological upgrades was highly recognized by domestic and overseas customers.

The corporate image of COSL was further enhanced. In 2015, COSL was selected as a constituent stock of the Hang Seng A-Stock Industrial Leading Index for the first time, and it was selected as a constituent stock of the Hang Seng China A Corporate Sustainability Benchmark Index for the second year. During the evaluation activity of “2015 Asian Executive Team”, COSL was awarded altogether six honorable titles including “the Most Honored Company in Asia”.

Offshore Oil Engineering Services

To reinforce EPCI (engineering, procurement, construction, installation) capability in the offshore oil engineering industry within the Asia-Pacific region, Offshore Oil Engineering Co., Ltd. (“COOEC”) endeavored its efforts to improve services in the offshore oil, gas and LNG projects in a practical and detailed way and made progresses in cost control and profit increase.

In 2015, COOEC’s workload decreased slightly compared with its historical peak, but the proportion of international projects was the highest in history. COOEC implemented 30 medium and large-scale engineering projects, completed 192,000 tons of steel processing, 15,600 vessel days and 142 milestone points of projects, and accumulated 184 days ahead of engineering schedule.

COOEC achieved breakthroughs in operation capacity and efficiency. In 2015, COOEC completed 3 large-scale float-over operations, making several new records. It constructed and installed a 220 kV offshore booster station, the largest one in Asia. It also undertook international long-distance towage of FPSO for the first time and completed offshore installation of Kenli 10-4 WHPA jacket and subsea pipeline laying of Enping 23-1 oilfields.

COOEC delivered remarkable performance in international projects. In 2015, COOEC operated 7 international projects including Ichthys and Yamal. In the Ichthys project, 8 modules were delivered at the pace of “one month for one vessel”, with zero-delay of construction period and 15 million safe man-hours. The Yamal project was awarded “Excellent Contractor” with zero-accident record in 10 million man-hours. The Nyhamna project was successfully delivered according to European construction standards. The onshore construction of the Zawtika 1B project was completed. The BSP project and the BD project in Indonesia progressed steadily. Crane vessels “Lanjing” and “Lanjiang” and the drilling rig “Hai Yang Shi You 289” won a good reputation in overseas operation.

COOEC made progress in market expansion. In 2015, COOEC signed 207 domestic project contracts and won the bidding of 9 international projects, among which 7 contracts were signed. Through the FPSO P67/P70 project, the company realized a direct contract of large-scale project in South America and a direct contract of overseas FPSO delivery for the first time.

COOEC technological research bore fruitful results. In 2015, COOEC carried out 70 major research projects, and patents were granted to 148 results and 22 software. 8 achievements including “Research on DP float-over technology and its Application in the South China Sea” won provincial-level awards and CNOOC group-level awards, and 6 research results including “Innovative Design and Engineering Application of Underwater Safety Isolation System” were awarded provincial-level awards by the industrial association. COOEC issued 1 national construction method, 7 provincial-level methods, 8 CNOOC standards like Quality Standard of Jacket Engineering Construction Acceptance and Quality Standard of Subsea Pipeline Engineering Construction Acceptance, and 1 standard document for Skid-mounted Electric-driven Reciprocating Compressor Technology.

COOEC made breakthroughs in key technologies. In 2015, COOEC completed FEED design of China’s first tension-leg platform and mastered technologies including barrier-free transition between single and double-node subsea pipelines, and underwater local dry welding. Its PAUT technical qualifications reached the highest level in the domestic market. Meanwhile, several technological achievements, like natural gas compressor, central control system, and T-shape sacrificial anode were applied in operation with economic returns.

COOEC was further recognized by the capital market. In the challenging year of 2015, the company's profit was the second highest in its history. COOEC was listed among the “Top 100 Chinese Listed Companies Most Respected by Investors” and “Top 10 Valuable Listed Companies in Main Board of China”. COOEC ranked 237th in the list of China’s Top 500 Enterprise, 8 places higher than that in 2014.

Professional Technical Services

Pursuing a specialization development path, CNOOC Energy Technology & Services Limited sped up industrial shaping through resource integration and organization optimization. It is committed to developing technologies, services and products in an all-around way, and it has formed four business sectors, including energy technological service, FPSO & shipping management, logistics & marketing service, and safety and environmental protection & energy saving. Equipped with a sustainable development capability, it provides one-stop services to the upstream, the mid and the downstream.

In 2015, CNOOC Energy Technology & Services Limited achieved the goal of maintaining growth in spite of the low oil prices environment. It made every effort to increase revenue and reduce expenditure. The Oil Production Company effectively operated offshore facilities; in the year a series of new facilities like “Hai Yang Shi You 118” were put into production and played an active role in oilfield production. The profit of CNOOC Tianjin Chemical Research & Design Institute exceeded RMB 100 million Yuan for the second consecutive year. The profit of CNOOC Changzhou Paint & Coating Industry Research Institute exceeded RMB 100 million Yuan for the first time, increasing by 76% compared with the previous year. The Marketing & Service Company and the Catering Company made stable profits through market expansion and strict budgeting. The overseas business kept a strong momentum, increasing profit by 27% compared with the previous year; the oilfield chemical products developed by the Engineering Technologies Company were applied in the Middle East and Asia-Pacific, and the Logistics Company finished its first overseas oil supply.

CNOOC Energy Technology & Services Limited actively carried out cooperation with international partners. It established the Deepwater System Company with MSP/DRILEX, making a good start in deepwater facility system and integrated service, and it signed contracts with Jereh and French SBM to carry out cooperation overseas.

CNOOC Energy Technology & Services Limited vigorously promoted innovation in technologies. In 2015, it invested RMB 780 million Yuan in R&D and established 159 new research projects. The project “Development and Application of Package Technology of Efficient and Environmentally Protective Aromatic Hydrocarbon”, which CNOOC Tianjin Chemical Research & Design Institute joined in, received the grand prize of the State Scientific and Technological Progress Awards. The Engineering Technologies Company achieved a significant breakthrough in sand control technology in well completion, marking that CNOOC became the third company to master the sand control technology system in the world. The Pipeline Company actively advanced new materials, techniques and methods under the principles of simplification, standardization and localization, and its independently-developed BHC fast spiral casing was widely applied in the Bohai Oilfield.

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