SINOPEC OILFIELD SERVICE Aktie

 

China's Sinopec To Build Gas Pipelines For Saudi Aramco In $1-Billion Deal By Tsvetana Paraskova of OilPrice.com A subsidiary of China's energy giant Sinopec has signed a $1.3-billion deal with Saudi Aramco to procure and build pipelines for an expansion of the Kingdom's natural gas distribution network, the Chinese firm said on Thursday. Under the turn-key fixed-price contract worth $1.3 billion (5.17 billion Saudi riyals), Sinopec International Petroleum Services Corporation, a wholly-owned subsidiary of Sinopec Oilfield Service Corporation, will be responsible for the in-country procurement and construction of Packages 6 and 7 of the Phase 3 Pipeline Project Clusters of the Master Gas System. Mechanical completion of the project is expected by May 31, 2027, under the contract, Sinopec said in a filing with the Hong Kong Stock Exchange. The project, Phase 3 Pipeline Project Clusters of Saudi Aramco MGS, is the third phase of the development of Aramco's commodity natural gas pipeline pr...