Thailand’s state-owned energy company, PTTEP, has awarded an $800 million Engineering, Procurement, Construction, and Installation (EPCI) contract to China’s Offshore Oil Engineering Company (COOEC).
The contract is for the Bundled Phases 4 project, which involves wellhead platform and subsea pipeline construction and marine management.
COOEC’s responsibilities include the project management, detailed design, procurement, fabrication, transportation, installation, and commissioning of new wellhead platforms, jackets, and subsea pipelines, as well as modification works on existing platforms.
The project will be executed under a long-term agreement (LTA) model, with PTTEP confirming annual workloads and deliveries of wellhead platforms and subsea pipelines between 2027 and 2029 through annual orders.
The construction phase is scheduled to run from 2025 through 2029.
This is the second offshore engineering EPCI project COOEC has undertaken for PTTEP, following work on the Zawtika 1B gas field off Myanmar. The award is considered the largest single EPCI contract ever secured by a Chinese enterprise in Southeast Asia.
Note by Alessandro Bazzoni