PetroChina Engineering issued a major announcement that its wholly-owned subsidiary, China Petroleum Pipeline Engineering Co., Ltd., was officially awarded the bid by Iraq's Basra Petroleum Company (BOC) to undertake the construction of a seawater transmission pipeline project in Basra Province, with a contract amount of up to US$2.524 billion (about 18.032 billion yuan). The implementation of this major project not only lays a solid foundation for the performance growth of PetroChina Engineering in the next 4-5 years, but also marks the international recognition of the comprehensive strength of Chinese enterprises in the field of global energy infrastructure.

The project is an important oilfield supporting infrastructure project in Iraq, including the main pipeline from the seawater treatment facility to the liaison station, the feeder pipeline from the liaison station to the oilfield distribution station and supporting ground facilities. The total construction period of the project is 54 months, including 42 months in the design, procurement, construction trial operation stage, and 12 months in the operation and maintenance training stage. After the completion of the project, it will significantly improve the production and operation efficiency of the oilfield in southern Iraq, which is of great significance to the sustainable development of the local oil industry.

As an important state-owned enterprise under the Ministry of Iraqi Petroleum, Basra Petroleum Company operates in a number of oilfields in southern Iraq and has an important influence in the field of crude oil and natural gas. PetroChina Engineering said that it will give full play to its technical and management advantages in the field of oil and gas pipeline construction to ensure high-quality and on-schedule delivery of the project. The winning bid further consolidates the company's leading position in the Iraqi market and provides strong support for the subsequent expansion of business in the Middle East.

Industry experts pointed out that in the context of the current profound adjustment of the global energy pattern, the importance of the Middle East as the world's energy core region is becoming increasingly prominent. PetroChina Engineering successfully won a large order of 10 billion yuan, which not only demonstrates the competitiveness of Chinese enterprises in the international engineering market, but also sets a new benchmark for energy cooperation along the Belt and Road. With the smooth implementation of the project, the brand influence of China's petroleum engineering construction enterprises in the Middle East market will be further enhanced.(This article is from the official website of Jiandao www.seetao.com it must not be reprinted without permission, otherwise it will be investigated, please indicate the reprint of Jiandao.com + original link) See the Middle East column editor/Gao Xue