---
title: "CPEC's subsidiary signs a project contract worth USD 294 million"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/247105401.md"
description: "CPEC's wholly-owned subsidiary, Pipeline Bureau Engineering Company, has signed an EPSCC contract for the Atawi GMP pipeline project with TotalEnergies, with a contract amount of USD 294 million. The smooth implementation of this project will help the company expand its oil and gas storage and transportation market in Iraq and the Middle East, and will have a positive impact on operating revenue and profits in the next 3-4 years. The implementation of the project will not affect the company's independence"
datetime: "2025-07-03T08:48:05.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/247105401.md)
  - [en](https://longbridge.com/en/news/247105401.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/247105401.md)
generator: "portal-rs"
---

# CPEC's subsidiary signs a project contract worth USD 294 million

According to the Zhitong Finance APP, China Petroleum Engineering (600339.SH) announced that in June 2025, its wholly-owned subsidiary Pipeline Bureau Engineering Company received a letter of award for the Atawi GMP pipeline project from TotalEnergies, confirming the Pipeline Bureau Engineering Company as the project winner. Recently, the Pipeline Bureau Engineering Company officially signed the EPSCC contract for the Atawi GMP pipeline project with TotalEnergies, with a contract amount of USD 294 million (approximately RMB 2.122 billion).

If the project is successfully implemented, it will benefit the company's further consolidation and expansion in the onshore oil and gas storage and transportation engineering market in Iraq and the Middle East, and will have a positive impact on the total operating income and profit over the next 3-4 years. The implementation of this project will not affect the company's independence, and the company's main business will not become dependent on related parties due to this project

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**