Dangote pipeline job in Nigeria a welcome boost for COOEC

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A contract for the transportation and installation work for Dangote Industries comes at a good time for Chinese player Offshore Oil Engineering Co. Ltd (COOEC) amid the current market lull, Upstream reports.

COOEC, controlled by China National Offshore Oil Corportation (CNOOC), is a large scale general contracting company involved in offshore engineering design, offshore engineering construction, offshore engineering installation and offshore oil and gas field maintenance that has been tapped up by Dangote Industries for the construction of a sub-sea pipeline installation, estimated at N500 billion.

The pipeline is part of Dangote’s $17 billion gas pipeline, fertiliser, petrochemicals and refinery project at the Lekki Free Trade Zone (LFTZ), Lagos and is expected to eventually go all the way from Bonny in Rivers State through Ogedegbe, Olokola to Lekki and Escravos Lagos pipeline and then West Africa Gas Pipeline.

With the current lull in the global oil and gas industry, the contract is a welcome boost for the Chinese firm whose President, Zhou Xuezhong, while outlining the firm’s strategy for cost reduction in a recent interview noted that in face of the challenges brought by the lower oil price environment, COOEC had made new breakthroughs in cost reduction and efficiency improvement through meticulous management.

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