Supply Agreement for Offshore Electrical Tracing Materials

Offshore Oil Engineering Co., Ltd. is a publicly listed company controlled by China National Offshore Oil Corporation (CNOOC). It is the only company in China that integrates the design, procurement, construction, offshore installation, commissioning, maintenance, and liquefied natural gas (LNG), offshore wind power, and refining and chemical engineering. It is also one of the largest and most powerful marine oil and gas engineering contractors in the Asia-Pacific region. The company is headquartered in the Binhai New Area of Tianjin and was listed on the Shanghai Stock Exchange in February 2002.

Jiahong New Material’s successful bid in this project will help CNOOC reduce costs and increase efficiency. It breaks the long-standing monopoly of European and American brands in the field of marine engineering electrical heat tracing systems and lays the foundation for the company to become a world-class supplier of electrical heat tracing systems. It is another successful example of CNOOC’s strategy to promote the localization of materials and equipment.