Singapore's BW Offshore (BWO) is eyeing expansion through new cooperation with China's ICBC Financial Leasing (ICBCL).
The intention is to establish a long-term strategic partnership to "jointly pursue large international infrastructure projects with a focus on FPSOs," it said.
They will use ICBCL's "leading position" as an arranger of financing to the offshore sector, it added.
BWO will contribute expertise in designing, developing and operating FPSOs.
ICBC has $44bn of assets and is part of the world's largest financial group, Industrial and Commercial Bank of China (ICBC).
"We are very pleased to enter into this strategic cooperation with ICBCL, a world-leading financial institution, and to strengthen our ties with China," said chairman Andreas Sohmen-Pao.
"A strong financial partner enables BW Offshore to address new growth opportunities."
The first joint project is ICBCL's equity participation in the BW Catcher FPSO through an issue of preference shares.
The $1.2bn vessel will operate on the Catcher field in the UK North Sea with start-up towards the end of 2017.
The two sides have also agreed to establish a cooperation to explore the Kudu-gas-to-power infrastructure project where BWO holds a 56% stake in the upstream license.
BWO CEO Karl Arnet said: "This partnership opens up...new models for developing FPSOs and FPSO-related projects.
"We see attractive market opportunities where we, in partnership with ICBCL, can deliver cost effective solutions to our clients in the oil and gas sector."
