CNOOC ENERGY TECHNOLOGY & SERVICES LTD

What CNOOC ENERGY TECHNOLOGY & SERVICES LTD does

CNOOC Energy Technology & Services Ltd (海油发展, SSE: 600968) is a Beijing-headquartered, publicly listed energy services company controlled by China National Offshore Oil Corporation (CNOOC). Founded in 2005 as CNOOC Base Company LLC and restructured into its current form in 2008, the company has been listed on the Shanghai Stock Exchange since June 26, 2019. With 10,000+ employees and FY2024 revenue of RMB 525.17 billion, it operates three core business segments: (1) Energy Technical Services, providing engineering services, equipment design and manufacturing, FPSO operations, enhanced oil recovery, and integrated oilfield production support; (2) Low-carbon Environmental Protection and Digitalization, covering safety emergency response, water treatment, green coatings, offshore wind power EPCI, and digital technologies; and (3) Energy Logistics Services, providing offshore supply, catering, oil/gas transfer coordination, and by-product distribution. The company serves primarily CNOOC group subsidiaries — including CNOOC China Ltd.'s Zhanjiang, Shenzhen, and Hainan branches, plus the CNOOC Research Institute — across China's offshore oil and gas basins, with international expansion into Uganda's Kingfisher Oilfield.

The company's technology portfolio is anchored by several world-first proprietary innovations: diesel aromatics adsorption separation technology achieving 2 million ton-level throughput, the world's first mobile steam injection platform (热采一号/Recai Yihao), China's first mobile multifunctional offshore measures platform (增产一号/Zengchan Yihao), China's first domestic deepwater intelligent hydraulic flow control valve, and the world's first megawatt-level seawater electrolysis hydrogen production device. Its AI-driven maritime oil spill emergency and typhoon intelligent early warning system — combining satellite, UAV, USV, and underwater detector data — was selected by SASAC as one of the first 40 central enterprise AI strategic high-value scenarios and is deployed across 50+ offshore platforms. The Hailong (海龙) brand is valued at RMB 219.38 billion, ranking 4th in China's 2025 Brand Value Evaluation.

The business model is enterprise B2B with long-term contracts to state-owned energy customers, primarily CNOOC. Revenue is generated through professional services, equipment sales, managed services contracts, and product sales across the three segments. An AI-driven digitalization push, including ten digital module products and three smart factories in trial operation, is supplementing the traditional services base. The company is led by a CNOOC-veteran management team, with a leadership transition announced in June 2026 (Liu Jianzhong succeeding Zhao Shunqiang as CEO).

Name

CNOOC ENERGY TECHNOLOGY & SERVICES LTD

Legal name

中海油能源发展股份有限公司

Website

https://cenertech.cnooc.com.cn

Company type

Public

Founded year

2005

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

CNOOC Energy Technology & Services Ltd (海油发展, SSE: 600968) is a CNOOC-controlled, Beijing-based energy services company providing technical services, low-carbon and digitalization solutions, and logistics to offshore and onshore oil and gas operators across China and select international markets.

Ownership category

akta.pro rank

Headquarters

HQ city

Beijing

HQ country

China

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure

Revenue model

1. 能源技术服务 (Energy Technical Services): Provides engineering technical services, equipment design/manufacturing and maintenance, integrated FPSO production services for oil and gas companies. Covers offshore and onshore unconventional oil and gas technical services, oilfield production stage services including enhanced oil recovery, supervision/inspection, oilfield operation support, equipment/facility integrated operation and maintenance services.
2. 低碳环保与数字化 (Low-carbon Environmental Protection & Digitalization): Provides safety emergency, energy saving and environmental protection, water treatment, green coatings, cold energy utilization, digital technologies and services. Includes offshore wind power EPCI general contracting and integrated operation/maintenance services.
3. 能源物流服务 (Energy Logistics Services): Provides offshore materials supply and catering services for offshore oil and gas field production; coordination services for oil and gas transfer; sales and distribution of oil and gas by-products. Comprehensive production and sales support.
4. 化工催化剂与新材料 (Chemical Catalysts & New Materials): New materials business including chemical catalyst production and sales. 5000 tons/year heavy oil catalytic conversion catalyst production line being built at Tianjin Nangang industrial zone. Diesel aromatics adsorption separation technology achieving 2 million ton-level breakthrough.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

CNOOC Energy Technology & Services Ltd provides integrated energy services across three core business segments: (1) Energy Technical Services covering engineering technical services, equipment design/manufacturing/maintenance, FPSO integrated production operations, and oilfield production support for offshore and onshore oil and gas fields; (2) Low-carbon Environmental Protection and Digitalization covering safety emergency, environmental protection, water treatment, green coatings, digitalization, and offshore wind power EPCI; and (3) Energy Logistics Services providing maritime supply, catering, oil/gas transfer coordination, and petroleum by-product distribution. The company serves CNOOC group subsidiaries and external oil and gas operators with proprietary technologies including the world's first diesel adsorption separation technology, mobile steam injection platforms, and AI-driven maritime oil spill monitoring systems.

Product overview

CNOOC Energy Technology & Services LTD operates as a comprehensive energy services company with three core business segments: (1) Energy Technical Services - providing engineering services, equipment manufacturing and maintenance, FPSO production operations; (2) Low-carbon Environmental Protection and Digitalization - covering safety emergency, environmental protection, water treatment, green coatings, digitalization services, and offshore wind power; (3) Energy Logistics Services - maritime supply, catering, and petroleum product sales. The company offers specialized products including '增产一号' (China's first mobile multifunctional offshore platform), '热采一号' (world's first mobile steam injection platform), and '海龙' brand products with 219.38 billion yuan brand value. The portfolio integrates traditional oil/gas technical services with digital and AI-powered solutions including the '海洋溢油应急及台风智能预警' system, forming a comprehensive服务体系 supporting offshore and onshore oil/gas production.

Differentiator

Problem solved

Functional benefit

Brands

• 海龙 (Hailong): Core brand of CNOOC Energy Technology & Services Ltd.; valued at 219.38 billion yuan in the '2025 China Brand Value Evaluation' product brand ranking (4th place). Covers energy technology products and services including Hailong pipelines.
• 增产一号 (Zengchan Yihao)
• 热采一号 (Recai Yihao)

Products and services

• Energy Technical Services (能源技术服务) Comprehensive technical services for oil and gas companies including engineering technical services, equipment design/manufacturing/maintenance, FPSO integrated production services, oilfield operation support, enhanced oil recovery, supervision/inspection, and equipment/facility maintenance integrated services. Focus on offshore and onshore oil and gas production stage operations.
• Low-carbon Environmental Protection and Digitalization (低碳环保与数字化) Provides safety emergency services, energy saving and environmental protection, water treatment, green coatings, cold energy utilization, and digitalization technologies and services. Also develops offshore wind power EPCI general contracting and integrated operation/maintenance service capabilities.
• Energy Logistics Services (能源物流服务) Provides maritime materials supply and catering services for offshore petroleum production and mid/downstream sectors, coordination services for oil/gas transfer, and sales and distribution services for petroleum by-products.
• Zengchan Yihao Mobile Multifunctional Measures Platform (增产一号) China's first domestically designed and built mobile multifunctional offshore measures platform integrating heavy oil thermal recovery, fracturing, acidification, and profile control capabilities. Marked as a milestone in marine engineering equipment manufacturing and offshore oilfield development technology integration.
• Recai Yihao Mobile Steam Injection Platform (热采一号) World's first mobile steam injection platform for heavy oil thermal recovery, delivering steam at 340°C and 50 tons/hour with simultaneous 6-well injection capability. Can be towed to different platforms for rapid injection, reducing heavy oil development costs.
• MW-level Seawater Electrolysis Hydrogen Production Device (兆瓦级电解海水制氢装置) World's first domestically-developed megawatt-level seawater electrolysis hydrogen production unit achieving 1,000+ hours of continuous demonstration operation, representing breakthrough technology in green hydrogen production.
• Marine Oil Spill Emergency and Typhoon Intelligent Early Warning System (海洋溢油应急及台风智能预警系统) AI-powered system combining satellite remote sensing, unmanned equipment (drones, USVs, underwater detectors), and AI algorithms for precise marine oil spill traceability and typhoon early warning. Selected as one of the first batch of central enterprise AI strategic high-value scenarios by SASAC.

Quantifiable outcome

• Diesel aromatics adsorption separation technology: 200万吨级 breakthrough (2 million ton-level)
• +8 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability6 records

Feature8 records

Partnerships

Three partnerships are on record, tiered core.

• 乌干达石油管理局 PAU (Petroleum Authority of Uganda)coreStrategic or Co-development Partner · 24 October 2023PAU Executive Director Ernest N.T. Rubondo visited CNOOC Energy Technology & Services in October 2023. Discussions covered core business operations, Kingfisher Oilfield project cooperation, Uganda's oil development policies and regulations, and future market collaboration prospects. PAU recognized the company's contributions to Kingfisher Oilfield development and local economic localization. Both parties agreed to leverage their respective advantages and strengthen cooperation for mutual benefit.
• 中海油乌干达有限公司 (CNOOC Uganda Ltd.)coreStrategic or Co-development Partner · 24 October 2023CNOOC Uganda Ltd. Vice President Wang Jufeng accompanied the PAU delegation visit. The company serves as the primary customer and coordinating entity for CNOOC Energy Technology & Services' Uganda Kingfisher Oilfield project services.
• 中国海洋石油集团有限公司 (China National Offshore Oil Corporation - CNOOC Group)coreStrategic or Co-development PartnerCNOOC Group is the controlling shareholder of CNOOC Energy Technology & Services. The company provides comprehensive technical services, equipment, and logistics support to CNOOC Group's offshore and onshore oil and gas production operations across Zhanjiang, Shenzhen, Hainan and other regions.

Scale indicators18 records

Recent moves7 records

Expansion highlights7 records

Broad incumbents

• Petrofac: International oil & gas services company focused on facility design, procurement, construction, and operations. Comparable to Haiyou Fazhan's integrated energy technical services for offshore and onshore production, including equipment manufacturing/maintenance and field operations support.
• Baker Hughes: Diversified energy technology company with overlapping oilfield services, industrial energy, and digital transformation offerings. Comparable to Haiyou Fazhan's integrated equipment/services + low-carbon/digital business model, though with much broader geographic reach and LNG/gas technology focus.
• Saipem: Italian offshore engineering and construction major with comparable FPSO, offshore platform fabrication, and offshore services capabilities. Competes for international offshore EPC and integrated services contracts where Haiyou Fazhan is trying to expand beyond CNOOC.
• Halliburton: Major global oilfield services provider with comparable well construction, completion, and production enhancement capabilities. Competes with Haiyou Fazhan for equipment and integrated production service contracts in international markets, though Haiyou Fazhan is more concentrated in Chinese offshore basins.
• Schlumberger (SLB): Global oilfield services leader across drilling, evaluation, production, and digital. Overlaps with Haiyou Fazhan's energy technical services segment (well services, equipment, integrated production) but operates globally and across the full value chain rather than specializing in CNOOC's offshore niche.

Direct peers

• TechnipFMC: Subsea and surface engineering, construction, and services provider. Comparable to Haiyou Fazhan's offshore platform engineering, subsea equipment (deepwater flow control valves), and integrated project capabilities, particularly for deepwater developments.
• Subsea 7: Subsea engineering, construction, and services company specializing in offshore field development. Direct peer for Haiyou Fazhan's offshore engineering technical services and subsea equipment offerings, particularly relevant as Haiyou Fazhan expands deepwater flow control technology.
• SBM Offshore: Global FPSO operator and supplier. Direct peer for Haiyou Fazhan's FPSO integrated production services business — both provide floating production solutions to offshore operators, with comparable technology requirements and long-term contract structures.
• China Oilfield Services Limited (COSL): CNOOC Group's primary offshore oilfield services subsidiary listed in Hong Kong and Shanghai. Provides nearly identical services — drilling, well services, marine support, FPSO — to the same CNOOC customer base, making it the closest functional peer and primary benchmark for Haiyou Fazhan's offshore services economics.

Regional players

• Yantai Jereh Oilfield Services: Chinese oilfield equipment manufacturer and service provider with comparable wellhead equipment, fracturing, and integrated oilfield services offerings. Regional peer that competes with Haiyou Fazhan for Chinese onshore/offshore equipment orders and represents a viable China-based alternative customer view.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CNOOC ENERGY TECHNOLOGY & SERVICES LTD