China Petroleum Engineering (600339.SH) subsidiary consortium signs $424 million EPC contract.
China Oil Engineering (600339.SH) announced that its wholly-owned subsidiary, China Petroleum Pipeline Bureau Engineering Company (referred to as "Pipeline Bureau Engineering Company") and its wholly-owned subsidiary CPPE (Kazakhstan) Ltd. formed a consortium with China Construction Limited and signed an EPC contract with Kazakhstan National Oil and Gas Company (referred to as "KMG PetroChem") for the EPC project of the ethane-propane mainline pipeline in the Atyrau Region of Kazakhstan. The contract is worth $424 million. The implementation of this contract will have a positive impact on the company's future revenue and profits over the next 3-4 years.
China Petroleum Engineering (600339.SH) announced that its wholly-owned subsidiary, Petrochina Pipeline Bureau Engineering Co., Ltd. (referred to as "Pipeline Bureau Engineering Company") and its wholly-owned subsidiary CPPE (Kazakhstan) Ltd. have formed a consortium with CITIC Construction Co., Ltd. to sign an EPC contract with Kazakhstan National Oil and Gas Company (referred to as "KMG PetroChem") for the EPC project of the ethane-propane mainline pipeline in the Atyrau Region of Kazakhstan. The contract amount is 424 million US dollars. The implementation of this contract will have a positive impact on the company's future operating income and total profits for the next 3-4 years.
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