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  • TitleCOOEC Won the “Oscar” Award in World Innovation Area 2018 OCI Award Winner - COOEC
  • Date2018-09-03
  • Content

    On August 23, according to the USA Product Development and Management Association (PDMA), COOEC has won 2018 OCI Award for Outstanding & Innovative Enterprise among more than 20 outstanding enterprises in the world. This is the first time since the establishment of the award granted to a mainland Chinese company.

    PDMA is the world's largest association in the field of product development and management. The OCI Award established by it is to recognize the enterprises that have launched new products, solutions and services over the world continuously for over five years and achieved success. Among past 55 OCI Award winners, such as world famous enterprises including Baker Hughes, Xerox, HP and BMW, many of enterprises have been listed on the Forbes List or Fortune 500 over the years. The Award has become the most important and valuable honor for innovators of industry for 31 years.

    For the past five years, COOEC has continuously carried out new product development researches by focusing on the integrated solution of marine oil and gas field, and achieved remarkable results in the breakthrough innovations in floatover installation method and revolutionary innovations in international market global strategy. The product combination and industrial structure are further optimized, specifically the products are upgraded from single module and jacket to high value-added products such as LNG, modularization and FPSO, and in respect of service, EPCI project is gradually developed from the CONCEPT and FEED research in the early stage to operation, maintenance & transformation and removal in the late stage. COOEC's international market share has been constantly improved. From 2008 to 2012, its overseas income accounted for only 8% of the total income. From 2013 to 2017, the proportion was rapidly increased to 26% and the number of stable clients was increased from 7 in 2012 to 15 in 2017. Even in the low oil-price environment, the Company's accumulated amount of new contract signed during 2013-2017 was up to RMB 69 billion, an increase of 15% over the previous five years. The total investment of R & D and the vigor index have been maintained at about 3% and 2.5% respectively for the last 5 years. The increasing innovative talents, guaranteed innovative process and open collaborative innovation are three key factors to guarantee the achievement of COOEC.

    The Award marks that the scientific and technological innovation of COOEC has entered a new stage under the guidance of the national innovation strategy and the strategic planning of industrial transformation and upgrading of "Made in China 2025”. At the same time, it also sets a good benchmark for Chinese enterprises and enterprises of CNOOC to integrate innovation into the blood of the country and nation.

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