China Offshore Oil Engineering (Qingdao) Co Ltd, a unit of crude and gas producer CNOOC Ltd, is looking to increase its revenue from overseas markets to around 70 percent by 2015 from the present 27 percent, a top company official said on Tuesday.
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Chen Baojie, general manager of COOEC Qingdao, said the company has a steady pipeline of orders from several international oil and gas companies like Royal Dutch Shell Plc and Exxon Mobil Corp.
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"We used to focus on equipment supplies for the domestic offshore oil exploration market. We are now looking to make a mark in the overseas markets," said Chen.
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The company established a 10-year strategic cooperation agreement with Shell in 2011, and most of the oil projects the Anglo Dutch firm owns in China use COOEC Qingdao's engineering equipment, said Chen.Â