Latest news with #ChinaPetroleumEngineeringCorporation
Iraqi News
6 days ago
- Business
- Iraqi News
China's CPEC secures $2.5 billion seawater pipeline project in Iraq
Baghdad ( – China Petroleum Engineering Corporation (CPEC), an engineering branch of China National Petroleum Corporation, has secured a $2.5 billion contract to build a seawater pipeline in Iraq. Basra Oil Company (BOC) has awarded the project to Pipeline Engineering, a CPEC affiliate, its Beijing-based parent firm said on Friday, according to Yicai Global, the English-language edition of Shanghai-based business and financial media outlet Yicai. It is estimated that the mainline from seawater treatment facilities to different connection stations, branch pipes from those stations to oilfield distribution posts, and related onshore facilities will take 54 months to complete. A contract has yet to be finalized, so formal execution is questionable, according to CPEC. However, if legally contracted and effectively completed, the project will boost the company's revenues over the next four to five years. CPEC has shifted its focus to higher-end projects, collaborating with multinational and national energy corporations as well as global construction businesses. In the past couple of months, CPEC's affiliated companies have signed two contracts with France's TotalEnergies, valued at $1.6 billion and $294 million, respectively.
Iraq Business
16-06-2025
- Business
- Iraq Business
Chinese Firm Wins Bid for $294m Iraq Pipeline Project
By John Lee. China Petroleum Engineering Corporation (CPEC) has announced that its wholly owned subsidiary, China Petroleum Pipeline Engineering has received a letter of award from France's TotalEnergies for a major gas infrastructure project in Iraq. The Artawi [Ratawi] GMP EPSCC Project, commissioned by TotalEnergies, involves the construction of midstream gas pipeline facilities linking the Majnoon and West Qurna 2 oilfields to a new gas processing plant in Artawi. It includes: a 114-kilometre, 26-inch sour gas pipeline, an 83-kilometre, 20-inch sour gas pipeline, three additional export pipelines, and associated valve stations and facilities. The project is valued at approximately $294 million [around 385 billion IQD], with a planned duration of 36 months. According to the company, if the contract is formally signed and successfully implemented, it is expected to contribute positively to China Petroleum Engineering's revenue and profits over the next three to four years, and further strengthen its position in the oil and gas pipeline engineering market in Iraq and the wider Middle East. The project is currently in the pre-contract award phase, and the final contract terms remain subject to confirmation. The company has warned that factors such as political, social or market conditions in Iraq, or the project owner's financing arrangements, could affect contract finalisation and execution. China Petroleum Engineering Corporation is a subsidiary of China National Petroleum Corporation (CNPC). Click here to view original announcement [Chinese] (Source: China Petroleum Engineering)
