China National Offshore Oil Corporation (CNOOC) is understood to be closing in on a decision to award FMC Technologies of the US a key contract to provide subsea equipment for the Wenchang 10-3 gas field in the western part of the South China Sea.
Sources said that CNOOC — headed by chairman Yang Hua — appears to have already taken a decision in favour of the FMC bid and is in the final stages of gathering feedback on the impending decision.
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