HQSM
HQSM Engineering Pte Ltd is a joint venture company between SMOE and China Huanqiu Contracting and Engineering Corporation (HQCEC). Established in March 2007, both companies, through HQSM, aim to expand their businesses in onshore plants.
HQCEC is a wholly-owned subsidiary of China National Petroleum Company Corporation. The company is an established brand in China specialising in engineering, procurement and construction services in chemical, petrochemical, onshore oil and gas processing and pharmaceutical plants in Asia, Middle East, Western Europe and USA. HQCEC originated as a design institute under the Chinese Republic's Ministry of Chemical Industry.
The HQSM partnership will also support CNPC's oil and gas interest in South-East Asia. CNPC owns PetroChina which operates onshore and offshore oilfields outside of China.
CPEC
Shenzhen Chiwan Offshore Petroleum Equipment Repair & Manufacture Co Ltd (CPEC) is located within the Shenzhen Special Economic Zone, People’s Republic of China. Its primary activities include offshore hook-up and commissioning, equipment repair and maintenance services for oil recovery and oil production platforms in the South China Sea.
CPEC is a co-venture between SMOE (35%), CNOOC Energy Technology & Services Limited (45%) and Chiwan Petroleum Supply Base (20%).