Xinhua reported that Baosteel has inked a long time strategic cooperation agreement with China Offshore Oil Corporation the country largest offshore oil and gas producer.

According to the agreement, the two companies are to conduct close strategic cooperation on product services, technology research, information sharing as well as jointly forming expert teams to work side by side on new products development and manufacture.

As per report, the deal is to make a closer strategic partner ship between the two companies.

CNOOC has long been one of Baosteel major steel products buyer. Through years of cooperation, CNOOC and Baosteel have jointly realized domestic production of UOE and HFW oil pipelines for CNOOC offshore oil and gas exploration and development.

(Sourced from Xinhua)