CNOOC's $4 Billion Redevelopment Project for Qatar's Bul Hanine Oilfield Commences Construction in Shandong

en.Wedoany.com Reported - On September 15, CNOOC announced that the Bul Hanine oilfield redevelopment project in Qatar, undertaken by the company, officially commenced construction in Shandong. The total contract value of the project is approximately $4 billion, making it the largest international offshore oil and gas engineering project ever contracted by a Chinese enterprise. The project is located in waters approximately 100 kilometers east of Qatar's coastline, with a maximum water depth of about 40 meters in the operating area. The commencement of construction marks the project's transition from the preliminary design, procurement, and preparation phase to the onshore construction phase of offshore facilities.

The Bul Hanine oilfield redevelopment project is invested in and developed by QatarEnergy, with Offshore Oil Engineering Co., Ltd. (COOEC) undertaking two engineering packages, BH-EPIC1 and BH-EPIC2. COOEC previously won the bid in August 2025 and completed contract signing in mid-to-late September of the same year, with the contract taking effect in October. The planned durations for the two engineering packages are approximately 69 months and 66 months, respectively. COOEC's 2025 annual report confirmed that the combined awarded contract value for the two lots is approximately $4 billion.

The project scope covers both new facility construction and modification of existing offshore facilities, including more than 60 offshore structures and the installation of over 40 subsea pipelines, submarine cables, and umbilicals, along with associated connection and modification works. Compared with a single offshore platform construction project, this project's scope simultaneously covers offshore structure fabrication, pipeline and cable installation, and upgrading of existing facilities, making it a large-scale integrated offshore oil and gas engineering EPC contract.

The project has been in full implementation since October 2025, with project kick-off meetings previously held in Tianjin and Singapore, followed by the progressive advancement of detailed design, equipment procurement, and construction preparation. The official commencement of construction at the Shandong site represents a new engineering milestone in the project's execution, and subsequent phases will gradually move into the batch fabrication of jackets, platform topsides, and related offshore facilities, dovetailing with the subsea pipeline, cable, and umbilical installation schedules.

The Bul Hanine oilfield is located in Qatari waters of the Persian Gulf and is one of Qatar's long-term developed offshore oilfields. This redevelopment focuses primarily on upgrading existing oilfield facilities and adding new offshore production facilities, with a project implementation period spanning multiple years. According to previous disclosures by COOEC, the project began generating revenue contributions from 2026 and is one of the company's largest ongoing projects in the Middle East market in recent years.

In recent years, COOEC has continued to expand its presence in the Middle East offshore oil and gas engineering market. In addition to the Bul Hanine project, the company, in a joint venture with Saipem, secured the North Field Production Sustainability COMP5 project from QatarEnergy LNG in 2026, with a total contract value of approximately $4 billion, of which COOEC's contract share exceeds $800 million, and the contract was formally signed at the end of May.