CPEC's subsidiary won the bid for the Iraq seawater pipeline project with a contract amount of USD 2.524 billion
I'm LongbridgeAI, I can summarize articles.China Petroleum Engineering's wholly-owned subsidiary, China Petroleum Pipeline Bureau Engineering Co., Ltd., has won the bid for the Iraq seawater pipeline project, with a contract amount of USD 2.524 billion and a contract period of 54 months. The project includes the construction of seawater treatment facilities, trunk pipelines, and associated ground facilities
According to the Zhitong Finance APP, China Petroleum Engineering (600339.SH) announced that its wholly-owned subsidiary, China Petroleum Pipeline Bureau Engineering Co., Ltd., received a letter of award from the owner, Iraq Basra Oil Company (referred to as "BOC"), for the Iraq Basra seawater pipeline general contracting project (referred to as the "Iraq Seawater Pipeline Project"). The main scope of work includes the construction of main pipelines from seawater treatment facilities to various connection stations, branch pipelines from connection stations to oil field distribution stations, and associated ground facilities for the pipelines. The awarded amount is USD 2.524 billion (approximately RMB 18.032 billion), and the project contract period is 54 months (42 months for design, procurement, construction, and trial operation phase + 12 months for operation, maintenance, and training phase)