FourFourThree has obtained internal documents that outline the plan for a new energy centre in the oilfield services sector.
The centre would be based in Wuhan and run by China’s energy giant, CNOOC, the documents reveal.
The CNOOX unit was founded in 2012 as the successor of China’s National Energy Administration (NEA), but has yet to deliver on its promise to develop a national energy market.
FourFourFour has obtained the internal documents from the CNOOS Energy Center, which was established in late 2013 and was tasked with running China’s national energy grid.
The documents are dated August and September 2015.
FourfourThree has approached CNOON for comment.
The Chinese company has not responded at time of publishing.
The project is part of China Energy Capital’s “New Energy Infrastructure and Economy” strategy, which aims to build a new, more efficient national energy network, as well as improve its ability to deliver power, transportation, telecommunications and communications services.
It aims to expand its energy services business in five years.
The new energy center would be the first Chinese firm to establish a hub in Wuzhou and its capital, Wuhuan.
According to the documents, the company would be a major player in the sector, with a market capitalisation of US$10.2 billion.
Four FourThree contacted CNOOM for comment, but did not receive a response at time