On February 13, China Offshore Oil Engineering Co., Ltd. (COOEC) issued a voluntary disclosure of its overseas project winning bids.
The announcement disclosed that COOEC recently received a letter of award from QatarEnergy LNG, confirming that the unregistered consortium formed by QatarEnergy LNG and Saipem has been awarded the contract for the “NFPS COMP5” project. The total contract value is approximately US$4 billion, of which COOEC’s share exceeds US$800 million.
The “NFPS COMP5” project is owned by QatarEnergy LNG, with operations located in the North Field gas field in Qatar. The project duration is approximately 5 years, and the scope of work includes two compressor complex platforms and their ancillary facilities. COOEC is responsible for the construction of the main facilities and some design and procurement work in this project.
On December 21, 2025, Saipem announced that it had jointly won the bid for the “NFPS COMP5” project with Offshore Engineering Co., Ltd. The two parties will be responsible for the offshore design, procurement, construction and installation contract (EPCI) for the “NFPS COMP5” project. The offshore installation work will be carried out by Saipem’s “De He” construction vessel, and is expected to start around 2029 and 2030.
COOEC stated that the winning project falls within the company’s core business. If the project is formally signed and successfully implemented, it signifies further recognition of CNOOC’s comprehensive strength by the mainstream Middle Eastern oil and gas market, which will have a positive impact on the company’s performance, promote the company’s future business development, and provide a successful example for Chinese companies to deeply participate in international energy cooperation.
COOEC is the only large general contracting company in China with capacities to undertake the design, procurement, construction, offshore installation, commissioning and maintenance of offshore oil and gas development projects, as well as the liquefied natural gas, offshore wind power, refining and chemical projects, etc. It is also one of the largest and the most competitive EPCI (engineering, procurement, construction and installation) contractors of offshore oil and gas projects in the Asia-Pacific region.
For Saipem, the company previously won bids for the “NFPS COMP2” project in October 2022 and the “NFPS COMP3” project in September 2024, both of which are EPCI contracts, and the relevant projects are currently progressing smoothly.