Aug. 4, 2009 (China Knowledge) - China National Offshore Oil Corp, the parent of CNOOC Ltd, on Aug. 3 signed a contract with Tianjin Jinneng Investment Co to invest RMB 5 billion in Tianjin Lishen Battery Joint-Stock Co Ltd, a subsidiary of the investment company, to build 20 Lithium-ion battery production lines, sources reported.

Tianjin Lishen Battery, which has a registered capital of RMB 600 million, is situated in the Tianjin Huayuan Hi-Tech Industry Park.

Mao Huanyu, chief technology officer and director of China BAK Battery Inc, which manufactures rechargeable lithium-based battery cells, said that CNOOC's RMB 5-billion investment may have a large impact on the domestic battery market, but that China BAK will take reciprocal action.

In August 2007, CNOOC's first offshore wind power station went into operation, marking the oil giant's entry into the clean energy sector, sources reported.