Fugro, headquartered in the Netherlands, is specialized in provision of logistics, personnel, equipment, consultation and technical support for exploration, production and development of natural resources around the world. The joint venture, China Offshore Fugro Geosolutions (Shenzhen) Co., Ltd (“COFG”), was established in 1983, COSL and Fugro each hold a 50% interest. COFG is principally engaged in provision of precise navigation services, engineering surveying, underwater remotely operated vehicle (ROV) supporting services for offshore oil and gas exploration, development and production.
The establishment of COFG represents an important initiative that has brought about adaption of new technologies, management improvement, and resources sharing. COFG achieved outstanding development in the past three decades. The renewal of the joint venture contract will further strengthen bilateral exchanges, cooperation and promote common development between COSL and Fugro.