French oil services company Technip has struck a joint venture agreement with the largest offshore engineering and construction company in China.
The five-year agreement between Technip and China Offshore Oil Engineering Company (COOEC) follows an award to the COOEC-Technhip Consortium in 2012 for the CNOOC Panyu 34-1/2 development project.
The joint venture will see the two companies combine knowledge, technical resources, and assets.
The target market for the duo will be deepwater engineering, procurement, construction and installation (ECPI) Subsea Umbilicals, Risers and Flowlines (SURF) projects at a waters deeper than 200 metres off the coast of China.
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