China's Offshore Oil Engineering (COOEC) reported a revenue of CNY27.16 billion ($3.799 billion) for the 2025 fiscal year, which is a 9.32 per cent decrease from the previous period. The company recorded a net profit of CNY2.08 billion, representing a 3.56 per cent decline compared to 2024.
Total assets reached CNY49.19 billion by December 31, 2025, and the group maintained a debt-to-asset ratio of 41.83 per cent. The board of directors proposed a cash dividend of CNY1.96 for every ten shares held by investors, totaling CNY867 million.
Global investment in offshore oil and gas exploration reached $217.55 billion in 2025, according to the China ocean energy development report 2025. This capital expenditure accounted for 35.7 per cent of total global oil and gas investment following five years of consecutive growth.
COOEC stated that its production model is shifting toward standardised and digital systems to improve value creation. It currently maintains a fleet of 19 specialized vessels, including a three-level dynamic positioning deepwater pipe-laying ship and a 7,500-tonne crane ship.
The company noted that geopolitical conflicts and trade protectionism have increased supply chain uncertainties and project execution costs. It added that the market is now characterised by “high-end concentration and layered competition” as international firms adjust their portfolios.
Deepwater and liquefied natural gas projects remain core areas where the company faces high technical barriers and competition. It reported that offshore oil and gas production continues to be the primary focus for increasing reserves and output within the domestic market.
