One contractor has emerged as the frontrunner in the race for a sub-contract to be awarded by China's Offshore Oil Engineering Company (COOEC) for work on the installation of deep-water facilities for the Lingshui 17-2 deep-water gas development in the South China Sea.
Oslo-listed Subsea 7 is said to be at the head of the queue for the job.
Some sources said that Subsea 7 had already emerged as preferred bidder after offering a very competitive package when prices were recently opened, although this could not be confirmed.
