On October 29, China Offshore Oil Engineering Co., Ltd. (COOEC) issued an announcement regarding board resolutions, which included the approval of a proposal to construct a pipe-laying crane vessel.
According to the announcement, in order to strengthen its in-house large-scale offshore engineering equipment capabilities, optimize its fleet structure, enhance its subsea pipeline-laying operational capacity, and consolidate its leading position in the Asia-Pacific pipeline-laying market, COOEC has approved the construction of a shallow-water pipe-laying vessel, following the approval of the project’s feasibility study report.
The total estimated investment for the project (including value-added tax) is approximately RMB 498.9583 million (approximately $74.9435 million). The project will be funded entirely through the company’s own capital, with delivery and commissioning expected by December 2028.
The vessel is primarily designed for operations in shallow waters within 100 meters, with a focus on the Bohai Sea in China, while also being capable of operating in other similar waters within the country and meeting relevant operational needs in the Middle East.