China Petroleum Engineering & Construction Corp: Subsidiary Wins Bid for 11.538 Billion Yuan Iraq Project

China Petroleum Engineering & Construction Corporation (CPECC) announced that recently, its wholly-owned subsidiary, Engineering & Construction Co., Ltd., received a Letter of Award from TotalEnergies for the EPSCC project of the Attawi Oil Field Gas Processing Plant in Iraq. The project involves the construction of a natural gas processing unit with a daily processing capacity of 320 million cubic feet. The estimated contract value is $1.601 billion (approximately 11.538 billion yuan), with a planned project duration of 39 months. The project is currently in the stage of winning the bid and awaiting contract signing, and there is still some uncertainty regarding whether a formal contract will be signed. If the contract is officially signed and smoothly implemented, it will have a positive impact on the company's operating revenue and total profit over the next 4-5 years.