Grenland Group has signed a contract with China National Offshore Oil Corporation (CNOOC) that initially involves an evaluation of prolonged production at Liuhua 11-1, one of the longest producing oil fields of China.
- This is the first contract Grenland Group signs with a Chinese oil company, and in that regard it represents a breakthrough of the company’s engagement in China, says Terje Uthus, CEO of Grenland Group.
The contract with CNOOC, valued at about NOK 5 million, includes a study of whether the semi submersible platform of the Liuhua 11-1 field can be upgraded offshore, or if it has to be taken onshore for this upgrade. Grenland Group will be well positioned for further contracts in this project.
- We have now taken a small, but significant step in China, and we hope to get more contracts both from CNOOC and other Chinese companies, Uthus says.
Grenland Group established itself in China with an office in Shanghai in January 2008, and is now in the process of recruiting engineers. In January, Grenland Groups also signed a strategic cooperation agreement with two powerhouse companies: Jiangsu Rongsheng Heavy Industries Co., Ltd. (RSHI) and XAC Group Import and Export Co., Ltd. (XAIC).