Offshore Oil Engineering Co.,Ltd (SHSE:600583) agreed to acquire Zhuhai fabrication yard in China from Fluor Corporation (NYSE:FLR) for approximately $120 million on December 20, 2025. A cash consideration of $122 million will be paid by Offshore Oil Engineering Co.,Ltd. Following completion of the transaction, COOEC will own 100% of the fabrication yard, which will be available, along with other COOEC facilities, to support fabrication needs for future Fluor opportunities.
Transaction is expected to completed in the coming months.
Fluor Corporation is a holding company that provides engineering, procurement, construction (EPC), fabrication and modularization, and project management services. Its segments include Energy Solutions, Urban Solutions and Mission Solutions. The Energy Solutions segment provides EPC services for the production and fuels, chemicals, liquefied natural gas (LNG) and power markets. The segment serves the oil, gas and chemical industries with full project life-cycle services. Its Urban Solutions segment provides EPC and project management services to the advanced technologies and manufacturing, life sciences, mining and metals, and infrastructure industries, as well as professional staffing services. Its Mission Solutions segment provides technical solutions to federal agencies across the United States government and other governments. These include the Department of Energy (DOE), the Department of Defense, the Federal Emergency Management Agency and intelligence agencies.
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