[Haichuan Overseas Engineering] CNOOC Engineering wins bid for $800 million+ Qatar offshore EPC project

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Recently, CNOOC Engineering announced that it, in partnership with SAIPEM, has won the COMP5 contract within the Northern Field Production Stabilization Platform series project (NFPS) in Qatar. This is another project awarded to CNOOC Engineering as part of a joint venture general contractor team, following the NFPS COMP2 project; it represents high recognition of the company’s comprehensive capabilities in the mainstream oil and gas markets of the Middle East. This development is of great significance for further strengthening strategic trust between China and oil-producing countries in the Middle East and for building a community dedicated to energy security. The owner of this project is QatarEnergy LNG, with a total contract value of around $4 billion; CNOOC Engineering’s share of this contract amount exceeds $800 million. The project is located in the world’s largest non-associated gas field – the North Field in Qatar. The NFPS COMP5 project is an important part of the **production enhancement strategies** for this gas field. The total project duration is approximately 5 years, and the work includes two compressor integrated platforms along with their associated facilities. CNOOC Engineering is responsible for the construction of the main facilities as well as some design and procurement tasks for this project. It is understood that with the successive implementation of super-large oil and gas projects such as Qatar BH and NFPS COMP5, CNOOC Engineering has made breakthrough advances in its international development, laying a solid foundation for its overseas strategic plans during the 15th Five-Year Plan period. Going forward, CNOOC Engineering will actively pursue the Belt and Road Initiative, continue to deepen its presence in the Middle East market, enhance its capabilities in managing international projects, and provide successful models for Chinese companies to engage deeply in international energy cooperation.