On August 16, Offshore Oil Engineering Co., Ltd. ("COOEC") shipped the last module of Yamal LNG project it undertook to the North Pole. The construction took 35 months and achieved a record of 386.3 million man hours without any lost-time injury.

In July 2014, COOEC signed the contract for 36 core modules of an LNG factory, the major facility of the Yamal LNG project, which is the company's largest overseas contract with contract amount of USD1.643 billion on. Located in the Arctic Circle in Russia, Yamal LNG project is the first integrated project of polar natural gas exploration & development, liquefaction, transportation and selling in the world.

Through the project, COOEC has successfully mastered the LNG core process module construction technology and entered the international high-end oil-gas equipment market. It has also made breakthroughs in key technologies, including welding, deep-cooling heat preservation, hoisting of huge and irregular equipment, and large-area fireproof paint coating.

CNOOC also promoted home-made materials application in the project, stimulating technological transformation and upgrading in related domestic industries.

About the Yamal LNG Project

The Yamal LNG project envisages the construction of an LNG plant with annual capacity of 16.5 million tons per annum based on the feedstock resources of the South-Tambeyskoye field. According to the PRMS reserve standards, the proven and probable reserves of the South-Tambeyskoye field as of 31 December 2015 were appraised at 926 billion cubic meters of natural gas. The Project is currently at the active construction stage.

The Silk Road Fund is a $40 billion medium- to long-term investment and development fund established in Beijing in December 2014. The Silk Road Fund makes outbound investment through both the acquisition of equity stakes and the provision of debt financing. The fund focuses on infrastructure, energy/resources, industrial capacity cooperation and financial cooperation that are vital to the connectivity of the Chinese economy with the rest of the world.

About CNOOC

China National Offshore Oil Corporation ("CNOOC"), the largest offshore oil and gas producer in China, is a mega government owned company operating directly under the State-owned Assets Supervision and Administration Commission of the State Council of the People's Republic of China.