Vallianz strikes vessel deal with CNOOC unit

CATALIST-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.