CNPC offshore engineering unit makes foray into Southeast Asia

CNPC Offshore Engineering Co Ltd (CPOE) has made its first foray into Southeast Asia's offshore drilling services sector, securing a foothold in the international high-end offshore drilling market.

The company, a subsidiary of China National Petroleum Corp, officially launched its JUB offshore drilling project in Indonesia recently.

As the company's largest international contract to date, the project, valued at over 1 billion yuan ($140 million), has a term of four years and represents a significant milestone for China's offshore oil and gas industry.