Profile of COOEC-Fluor Heavy Industries Co., Ltd.

On January 8, 2016, “COOEC-Fluor Heavy Industries Co., Ltd.” was founded with the joint investment of China Offshore Oil Engineering (Zhuhai) Corporation and Fluor Limited of Fluor Company and put into operation formally. The registered address is Zhuhai Gaolan Port Economic Zone.

The total registered capital of joint venture is USD 999,600,000. China Offshore Oil Engineering (Zhuhai) Corporation invested USD 509,800,000 in the form of Zhuhai site attached with fixed assets and cash, which occupies 51% of total registered capital. Fluor Limited invested USD 489,800,000 in the form of cash, which occupies 49% of total registered capital. USD 428,800,000 has been invested by the end of December 31, 2016.

The joint venture is responsible for the subsequent construction and routine operation and management of Zhuhai deepwater oceaneering manufacture base. As a strategic measure, it has great significance to cope with current industrial difficulties, open up the international market and increase the international project operation and management capacities together with Fluor Company.

The target products of joint venture are floating facilities, fixed platforms, underwater products, process modular products and other products within the business scope of joint venture (“offshore products”). In the short period, it aims to enter the leading engineering enterprise echelon in the global offshore oil engineering field and become an EPC company that possesses capabilities of project design (including detailed design), procurement, fabrication, construction and management.

The joint venture can integrate the advantages of both parent companies, accelerate the construction of deepwater oceaneering manufacture base, push Zhuhai site to international engineering market, and further cultivate and increase the capabilities of deepwater works, project management, design, research, development and international market development.

For more information related to joint venture, please visit the website of COOEC-Fluor: