OREANDA-NEWS. July 17, 2014. ATALIST-LISTED Vallianz Holdings has steered itself into China's oil & gas industry, announcing yesterday a three-year collaboration agreement with the country's largest offshore engineering and construction company.

Under the deal with Offshore Oil Engineering Co (COOEC), the integrated offshore marine solutions company will provide offshore support vessels, including submersible launch vessels, to back COOEC's offshore construction activities and operations.

The vessels will be made available to COOEC either by charter or through the award of a project sub-contracted to Vallianz.

COOEC is a subsidiary of China National Offshore Oil Corporation (CNOOC), the largest offshore oil & gas producer in China and the third largest national oil company in the country focusing on the exploitation, exploration and development of crude oil and natural gas. It has a footprint that extends throughout China, South-east Asia, Australasia and the Middle East.