Chinese yard conglomerate Cosco Shipping Heavy Industry has proposed a fresh scheme to breathe new life into the abandoned Octabuoy semi-submersible platform it built by offering it for a new assignment in Chinese waters.
Industry officials said that Cosco has suggested to domestic oil company Sinopec that the semisub could be used as a production facility to process, store and offload oil produced from its Weizhou oilfield at the Weixi Trough in the Beibu Gulf of the South China Sea.