China Petroleum Engineering (600339.SH) subsidiary won a bid of about US$294 million for Iraq's Atawi GMP project

Zhitong Finance App News, China Petroleum Engineering (600339.SH) issued an announcement. Recently, China Petroleum Pipeline Engineering Co., Ltd. (hereinafter referred to as “Pipeline Bureau Engineering Company”), a wholly-owned subsidiary of the company, received an award letter from the owner TotalEnergies (hereinafter referred to as “Total Energy”) for the Iraq Atawi Oilfield Natural Gas Midstream Pipeline EPSCC Project (hereinafter referred to as the “Attavi GMP Project”). Construction began at the Madinoun Oilfield and Sigurna II Oilfield to build a new gas treatment plant, including a length of about 11,264 km Inches of acid gas The estimated contract amount for the line, the 83-kilometer 20-inch acid gas pipeline, and three other external pipeline pipelines and supporting station valves is about US$294 million (approximately RMB 2,122 billion), and the planned construction period for the project to achieve provisional acceptance is 36 months.

The project is currently in the process of winning the bid and awaiting signing, and there is still some uncertainty about whether a formal contract can be signed. If a formal contract is signed and successfully implemented, the project will have a positive impact on the company's revenue and total profit for the next 3-4 years.