Fluor Corporation + COOEC
Fluor Corporation
Irving, Texas · 1 relationship
Historical relationship
Joint Venture · 2015–2026
COOEC
Tianjin, Tianjin · 1 relationship
Analysis
Fluor and China Offshore Oil Engineering Company (COOEC), a CNOOC subsidiary, formed a fabrication joint venture in 2015 to own, operate, and manage a yard in Zhuhai, Guangdong. [2] The arrangement assigned 51% to COOEC and 49% to Fluor and placed the facility near Zhuhai Gaolan Port, with access to the Pearl River Delta and Hong Kong. [2] Fluor described the yard as approximately 2 million square meters and capable of fabricating offshore and onshore modules weighing more than 50,000 tons. [2]
The venture was designed to combine Fluor’s engineering and project-management capabilities with COOEC’s Chinese offshore-construction position and local fabrication resources. [2] COOEC’s later regulatory disclosure records a proposed total investment of approximately $999.6 million, with the Chinese partner’s 51% contribution including land-use rights, physical assets, and cash. [1] Fluor separately announced an initial $350 million investment and an additional $139 million contribution in the third quarter of 2016. [2]
The yard’s documented work included large modular fabrication for international energy projects. [3] For Kuwait’s Al-Zour project, COOEC-Fluor reported completion of 188 modules shipped in 20 shipments, with a combined weight of 65,000 metric tons and more than 95,000 pipe spools fabricated over 24 months. [3] Fluor’s 2019 filing confirms the 49%/51% ownership structure and identifies the yard as a fabrication asset used within the company’s project-delivery activities. [4]
The joint-venture phase is now being unwound. [1] COOEC’s April 2026 disclosure says the parties signed an equity-transfer agreement in December 2025 for COOEC to acquire Fluor’s entire 49% interest for RMB859.4683 million in cash, and describes the post-completion structure as a 100%-owned subsidiary with no change in consolidation scope. [1] Fluor’s current corporate history continues to identify the 2015 Zhuhai fabrication joint venture as a historical milestone. [5] The public record supports treating the partnership as terminated by 2026, while the cited disclosure does not provide a separate post-transfer operating or revenue forecast for the yard. [1] [5]
Participants
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Irving, Texas · 1 record in this database
Fluor Corporation began as Fluor Construction Company, founded in 1912 in Santa Ana, California, by John Simon “Si” Fluor, who had emigrated from Switzerland and trained as a journeyman carpenter. Fluor’s official timeline says the original general contractor quickly developed a reputation for quality and innovation, and that the company later grew into a global provider of engineering, procurement, construction, and maintenance services. [1]
Fluor works across the project life cycle, from conceptual design and engineering through procurement, fabrication, construction, commissioning, operations, and maintenance. Its current services include multidisciplinary engineering, strategic sourcing and logistics, construction execution, and sustaining-capital and reliability programs, allowing clients to use Fluor for both new facilities and ongoing asset support. [2] [3]
The company’s 2025 Form 10-K organizes operations into Urban Solutions, Energy Solutions, and Mission Solutions. Urban Solutions serves advanced technologies and manufacturing, life sciences, mining and metals, infrastructure, and operations and maintenance; Energy Solutions covers oil and gas, fuels, chemicals, liquefied natural gas, power, and energy-transition work; Mission Solutions provides technical services to U.S. and other governments and to commercial nuclear clients. [4]
Fluor identifies its headquarters as 6700 Las Colinas Boulevard in Irving, Texas. Its current corporate profile describes nearly 23,500 colleagues in more than 40 countries, while its services pages emphasize global project execution and supply-chain capabilities. Fluor’s role is therefore primarily that of an engineering, project-management, construction, and maintenance contractor delivering facilities and infrastructure for clients across industrial, public-sector, and technology markets. [2] [5]
Tianjin, Tianjin · 1 record in this database
Offshore Oil Engineering Co., Ltd., known as COOEC, is a listed company controlled by China National Offshore Oil Corporation and headquartered in Binhai New Area, Tianjin. It was created in 2000 when CNOOC consolidated three offshore-engineering businesses into a company integrating design, procurement, construction, offshore installation, commissioning, and maintenance. COOEC was listed on the Shanghai Stock Exchange on February 5, 2002, under stock code 600583. [1]
COOEC’s principal model is EPCI contracting: it provides engineering, procurement, construction, and installation services for offshore oil and gas development and also works on liquefied natural gas, offshore wind power, refining, and chemical projects. The company says it maintains manufacturing bases in Tianjin, Qingdao, and Zhuhai and a 19-vessel offshore construction fleet that includes deepwater pipe-laying and heavy-lift vessels. [2] [3]
COOEC’s history page says that since 2012 it has delivered more than 200 jackets and topsides and laid more than 4,000 kilometers of subsea pipelines and cables, while projects such as Deep Sea No. 1, Haiji-1, and Haiji-2 advanced its capabilities into water depths beyond 1,500 meters. Its Deep Sea No. 1 project page describes the 1,500-meter Lingshui 17-2 gas-field development and the construction of a semi-submersible production and storage platform, subsea production system, pipelines, and umbilicals. [1] [4]
COOEC is an engineering contractor rather than an oil-and-gas field operator. Its work converts field-development plans into fabricated and installed platforms, pipelines, floating production systems, and related facilities; its 2024 annual report identifies more than 200 offshore oil and gas fields undertaken in China and highlights projects including Asia’s first deepwater jacket, the Haikui No. 1 cylindrical FPSO, the second phase of Deep Sea No. 1, and Saudi Aramco’s Marjan platform. [5]
The international dimension is material to COOEC’s place in the database. The company lists clients and project relationships including CNOOC, ConocoPhillips, Shell, Saudi Aramco, QatarEnergy, Petrobras, MODEC, and Fluor, with business spanning more than 20 countries and regions. These relationships illustrate how COOEC exports marine-engineering, fabrication, and installation capabilities through project contracts while remaining a distinct listed subsidiary within the wider CNOOC group. [2]