China Offshore Oil Engineering (COOEC), the listed offshore engineering arm of China National Offshore Oil Corp. (CNOOC), increased its net profit by 368.7% year on year to RMB 848 million ($135.18 million) in 2012.
Revenue rose by more than two-thirds over the same period, to RMB 12.38 billion, COOEC said in a filing with the Shanghai Stock Exchange this week. Most of the increase came from the South China Sea, where projects generated RMB 7.8 billion – up by 63.22% year on year.
The company handled 22...
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