COOEC signed a project contract worth approximately 800 million USD with Thailand's PTTEP
COOEC has signed a contract for the Bundled Phases 4 EPCI general contracting project worth approximately USD 800 million with Thailand's PTTEP, involving the construction of wellhead platforms and subsea pipelines. The project will be executed from 2025 to 2029, with an expected contract amount of USD 800 million, providing stable overseas business volume. PTTEP is a state-owned energy company in Thailand responsible for domestic and international oil exploration and production
According to the Zhitong Finance APP, COOEC (600583.SH) announced that the company recently signed a contract for the Bundled Phases 4 EPCI general contracting project for wellhead platforms and subsea pipelines with Thailand's PTTEP. This project will be executed under a long-term agreement model, with the owner confirming the workload for wellhead platforms and subsea pipelines for offshore delivery from 2027 to 2029 on an annual basis. The company will undertake the design, procurement, construction, offshore transportation, installation, and commissioning as the general contractor, with an estimated contract amount of approximately USD 800 million.
It is reported that PTTEP is a state-owned energy company in Thailand, primarily engaged in domestic and international oil exploration and production activities. By the end of 2024, the company's oil and gas production in Thailand is expected to account for 69% of the country's total production. This project is the second offshore engineering general contracting project executed by the company for PTTEP, with the construction period extending from 2025 to 2029, providing a stable overseas business volume for the company during the 14th Five-Year Plan period
