China Petroleum Engineering & Construction Corporation: Subsidiary wins bid for TotalEnergies' 2.122 billion yuan Iraq project

China Petroleum Engineering & Construction Corporation announced that its wholly-owned subsidiary, Pipeline Bureau Engineering Corporation, signed an EPSCC contract with TotalEnergies for the Midstream Pipeline Network Project of the Attawi Oilfield in Iraq. The contract value is $294 million (approximately 2.122 billion yuan). The contract performance period is as follows: trial operation conditions to be met within 33 months after the contract comes into effect, provisional acceptance conditions to be met within 36 months, completion documents to be submitted within 38 months, followed by a 24-month warranty period. This project is an important component of TotalEnergies' multi-energy integrated natural gas growth integrated project (GGIP project), aiming to enhance Iraq's electricity supply capability by developing the country's natural resources. The smooth implementation of the contract will have a positive impact on the company's operating revenue and total profit over the next 3-4 years.