Chinese offshore giant CNOOC Ltd is considering increasing its equity in SinoOcean Offshore Assets Management, China’s government-owned offshore assets manager. The move would see more abandoned offshore rigs chartered.

Well-placed industry officials said the offshore operator has been approached by SinoOcean management regarding increasing its equity to become a majority stakeholder.

This would give CNOOC Ltd more power on the board to facilitate the marketing or chartering of China’s offshore assets, mostly jack-up rigs, sources said.