China National Offshore Oil Corp (CNOOC), the country’s third largest national oil producer, signed a 150,000 pounds ($239,385) deal with Scotland’s SafeHouse Habitats Ltd to improve the safety of offshore drilling platforms, the China Daily reported.
Under the deal, SafeHouse will sell its patented safe working environment products to CNOOC to reduce production costs on offshore rigs during repair and maintenance projects. The Scottish firm will also test its products on CNOOC’s offshore platforms.
Meanwhile, another Scottish oil technology company, Unmanned Production Buoy (UPB), announced that it had signed a memorandum of understanding with Offshore Oil Engineering Co Ltd – a subsidiary of CNOOC – for the mass manufacture of shells and components in China under UPB licence over a 10-year period. Value of the contract is estimated at 2.5bn pounds ($4 bn) and products will be shipped back to Scotland for assembly.
The deals were inked among a series of business contracts between Scotland and China during Scotland’s First Minister Alex Salmond’s visit to Beijing recently.
Mr Salmond outlined an oil and gas mission with Chinese energy companies CNOOC and Sinopec, aiming to promote Scotland’s oil and gas products to the world’s largest consumer of energy.
“In the past few years we’ve seen increased investment from China into the industry in Scotland, with CNOOC’s acquisition of Nexen, and Sinopec’s interest in Talisman’s North Sea business. And this week, I’m introducing some of our most innovative companies to the senior leadership of these energy giants, to help them do more business in this market,” Mr Salmond said.