Lates News

On the afternoon of September 24th, Sinopec Oilfield Service Corporation announced on the Hong Kong Stock Exchange that its wholly-owned subsidiary, Sinopec Group International Petroleum Engineering Co., Ltd, has officially signed a fixed-price contract for the design, procurement, supply, construction, and commissioning of the Nahr Bin Umar Oilfield Project Phase II well site and well site pipeline project in Iraq. The contract with TotalEnergies Ratawi Project Company is valued at 359,118,182 US dollars (approximately 2.553 billion RMB), accounting for about 3.15% of the company's revenue under Chinese accounting standards in 2024. Payments will be made according to milestone points and project progress. The contract is scheduled to achieve mechanical completion by March 31, 2029.