Company News
QATARENERGY ISND5-2 EPIC PROJECT VALUED OVER 4 BILLION YUAN -
ONSHORE FABRICATION WORK GET STARTED IN QINGDAO, CHINA
Date：2024-07-03
On 26 June 2024, Qatar·Energy ISND5-2 EPIC project, undertaken by China Offshore Oil Engineering Co., LTD. (hereinafter referred to as "COOEC"), began onshore fabrication in Qingdao International High-End Equipment Manufacturing Base.
QatarEnergy ISND5-2 project, valued at approximately 2.216 billion Qatar riyals(equivalent to approximately 4.437 billion yuan), is recognized as one of the most diverse, complex and challenging projects that Chinese enterprises have ever undertaken, and is the largest EPCI award contract in the history of QatarEnergy.
The project is situated 80 kilometers east of the Qatar Peninsula in the Arabian Gulf, with a maximum water depth of about 35 meters. The total project duration is 43 months, and the scope of work includes design, procurement, construction, transportation, installation, commissioning for 3 wellhead platforms weighing about 1300 tons, 9 subsea pipelines, 5 umbilicals, 4 subsea skids and brownfield modification works at PS1 complex. This project, highly complex in terms of its scope of work and technical requirements, has set a new record for the international offshore oil and gas EPIC project contracted by China.
Over the past years, COOEC has adhered to its business development positioning & orientation of "Engineering + Product + Service" and continued to promote international cooperation under the "Belt and Road Initiative", and has established good cooperative relations with global oil companies such as Saudi Arabian Oil Company and Qatar Petroleum through a series of successful win-win projects including Saudi Marjan, Saudi CRPO122, Qatar NFA project, NOC RUYA, NFPS COMP2 and etc. Through previous projects, COOEC has greatly built up its overall capacity to conduct EPIC project and has won high recognition by the international market.