PetroChina Engineering: Signs $1.601 billion contract for Iraq oil field project.

CNOOC Engineering Announcement: The company's wholly-owned subsidiary, China Petroleum Engineering Construction Co., Ltd., has signed an EPSCC contract with Total Energy for the Atawi Oilfield Gas Processing Plant project in Iraq, with a contract value of $1.601 billion. The contract performance period is 36 months from the effective date of the contract to achieve the start-up condition, followed by a temporary acceptance at 39 months, and then entering a 24-month warranty period. The performance of this contract will not have a significant impact on the company's total assets, net assets, and net profits for the current year, but will have a certain positive impact on the company's operating income and total profits for the next 4-5 years.