On April 22, CNOOC Oil Production Services Company, COSCO Shipping Group and Dalian Heavy Industry·Crane Group held a review meeting and contract signing meeting for the development of single-point mooring liquid rotary joints. Jointly reviewed the detailed design and process plan for the development of the liquid rotary joint. Subsequently, CNOOC Oil Production Service Co., Ltd. signed a master contract with COSCO Shipping Group for the development of a single-point mooring device for marginal oil fields. The Heavy Group signed a contract for the research and development of a single-point mooring liquid rotary joint for marginal oilfields.