Offshore Oil Engineering Co, a unit of China National Offshore Oil Corp (CNOOC) Group, has built the first phase of an engineering base that will build offshore equipment for oil production, the company said on its website.

Two more phases will completed in 2008, and will make it the largest engineering base of its kind in Asia.
Located in the eastern city of Qingdao, in Shandong province, the base will cost a total of 1.75 billion yuan ($218.8 million) and cover 900,000 square metres when completed, it said.
It will produce various types of equipment for oil rigs in shallow and deep water, with a capacity to process over 200,000 tonnes of steel per year.