Chinese oil & gas group CNOOC plans to deepen its presence in the offshore wind sector after forging a pact with power development giant China Three Gorges (CTG) that could see the two work together on floating projects.

In a strategic cooperation agreement signed over the weekend, the two companies aim to build on synergies in the renewable energy business as well as project financing.

The pair committed to further cooperation in offshore wind with a focus on building market share, alongside growing their businesses related to gas-fired power generation.