Home-made offshore oil-drilling platform marks milestone
The Deep Water Semi-submersible Drilling Platform docks at Shanghai Waigaoqiao Shipbuilding Co yesterday. The nation's first home-made offshore drilling platform is the most advanced kind in the world. It will be sent off for exploring oil reserves in the South China Sea at the end of the year. [Shanghai Daily]
China's first home-made offshore drilling platform has completed assembly and is expected to be sent off for exploring oil reserves in the South China Sea at the end of the year.
The Deep Water Semi-submersible Drilling Platform, valued around 6 billion yuan (US$877 million), left the dock of Shanghai Waigaoqiao Shipbuilding Co yesterday. It is the sixth generation of its type and the most advanced kind in the world.
Designed by the No. 708 Research Institute of China State Shipbuilding Corporation in Shanghai, the new drilling facility weighs more than 30,000 tons and is able to drill at 10,000 meters below the sea level.
After testing and a trial trip in the next few months, the new equipment should be ready for handing over to the China National Offshore Oil Corp at the end of the year for deployment in the South China Sea.
Earlier this month, Cnooc Ltd, the country's biggest offshore oil explorer, said its partner Husky Energy Inc had made a third natural gas discovery in the South China Sea.
The Liuhua 29-1 find in the Pearl River Mouth Basin was followed by two nearby findings of Liuhua 34-2 and Liwan 3-1.
Cnooc projected crude oil and natural gas production to rise 22 to 27 percent this year, to 275 million to 290 million barrels of oil equivalent.
The Waigaoqiao shipyard completed 6.05 million dead-weight tons of new vessels last year, the biggest output among domestic ship makers.
However, shipyards are seeking more income from marine products such as port equipment or drilling platforms, as the financial crisis having hurt new orders of carriers. Some ship owners even scrapped old orders to prevent overcapacity.
"We expect the income from the marine engineering sector to account for 10 percent out of our total revenue by the end of 2015," said Wang Qi, vice president of Waigaoqiao Shipbuilding.
The shipyard's marine-equipment production base is also under way in Lingang New City in the Pudong New Area and is set to be put into operation in May this year.
The 3 billion yuan new base will boost the city's advanced manufacturing sector, part of the country's strategy to enhance the ship making and heavy machinery industries.