Recently, China National Offshore Oil Engineering Co., Ltd. successfully won the bid for two sections of the Bul Hanine (BH) oilfield project of Qatar Energy Company, with a total contract amount of approximately 4 billion US dollars (equivalent to approximately 28.612 billion yuan), setting a new record for the highest contract amount of Chinese enterprises in the field of offshore oil and gas engineering in the Middle East. The project is located in the waters of Qatar in the Persian Gulf, covering multiple parts such as new construction, underwater construction, renovation, and disposal. CNOOC Engineering will be responsible for the construction of multiple structures, the laying of multiple submarine pipelines and cables, and the renovation of some existing facilities.

This bid is a major breakthrough for CNOOC Engineering to deepen its strategy in the Middle East market, which has a positive impact on the company's future performance and overseas business layout. The Bul Hanine oil field is one of the most important oil fields in Qatar, and this expansion project is a core component of Qatar's long-term energy strategy, aimed at continuously increasing oil production capacity and supporting its expansion plan for liquefied natural gas (LNG) production capacity.

In recent years, CNOOC Engineering has actively implemented the the Belt and Road Initiative and has implemented nearly 70 projects in countries along the Belt and Road, continuing to support the development of regional energy infrastructure. The company relies on its EPCI (Engineering, Procurement, Construction, Installation) general contracting capability and full industry chain service advantages to continuously obtain new orders in the Middle East market. At the beginning of last year, the company was awarded a $900 million underwater pipeline and cable construction contract for the Ruya project by Qatar Energy.

As a listed company controlled by China National Offshore Oil Corporation, CNOOC Engineering is the only large-scale general contracting enterprise in China with the ability to integrate the entire industry chain of offshore oil and gas engineering. It is also one of the largest and strongest offshore oil and gas engineering service providers in the Asia Pacific region. The company has manufacturing bases in Tianjin, Qingdao, and Zhuhai, with 19 professional offshore engineering vessels and leading capabilities in offshore pipe laying and installation in Asia.

In the first half of 2025, CNOOC Engineering achieved a revenue of 11.318 billion yuan and a net profit of 1.098 billion yuan. As of the end of June, the company's total assets were 47.828 billion yuan, net assets were 26.484 billion yuan, asset liability ratio was 40.37%, newly signed contracts amounted to 12.068 billion yuan, and the total number of orders on hand was approximately 40.7 billion yuan. (This article is from www.seetao.com, the official website of Daodao, and cannot be reproduced without permission. Otherwise, it will be prosecuted. Please specify the website of Daodao+the original link for reproduction.) See the editor of the the Belt and Road column of Daodao/Yang Beihua