Core Viewpoint - China National Petroleum Engineering Company (600339.SH) has received a project award letter from Iraq's Basra Oil Company for the Basra seawater pipeline project, with a contract value of $2.524 billion (approximately 18.032 billion RMB) [1] Group 1 - The project involves the construction of seawater treatment facilities, main pipelines from the treatment facilities to various junction stations, and branch pipelines from junction stations to oil field distribution stations, along with associated ground facilities [1] - The contract duration is set for 54 months, which includes 42 months for design, procurement, construction, and trial operation, followed by 12 months for operation maintenance and training [1]

Core Viewpoint - China Petroleum Engineering (600339.SH) has received a project award for the Iraq Basra seawater pipeline project from Basra Oil Company (BOC), indicating a significant opportunity for the company in the international market [1] Group 1: Project Details - The awarded project involves the construction of seawater treatment facilities, main pipelines from treatment facilities to various junction stations, and branch pipelines from junction stations to oil field distribution stations, along with associated ground facilities [1] - The total contract value for the Iraq seawater pipeline project is approximately $2.524 billion (around 18.032 billion RMB) [1] - The project duration is set for 54 months, which includes 42 months for design, procurement, construction, and trial operation, followed by 12 months for operation maintenance and training [1]

Core Viewpoint - China Petroleum Engineering (600339.SH) announced that its wholly-owned subsidiary, China Petroleum Pipeline Bureau Engineering Co., Ltd., has received a project award letter from Iraq's Basra Oil Company for the Basra seawater pipeline project, with a contract value of $2.524 billion (approximately 18.032 billion RMB) and a contract duration of 54 months [1] Group 1 - The awarded project involves the construction of seawater treatment facilities, main pipelines from the treatment facilities to various junction stations, branch pipelines from junction stations to oil field distribution stations, and associated ground facilities [1] - The project contract period consists of 42 months for design, procurement, construction, and trial operation, followed by 12 months for operation maintenance and training [1]

Group 1 - The core point of the article is that China National Petroleum Engineering (600339.SH) announced that its wholly-owned subsidiary has received a project award letter for a seawater pipeline project in Iraq, with a contract value of approximately 25.24 billion USD (about 180.32 billion RMB) [1] - If the project is formally signed and successfully implemented, it will help the company consolidate and expand its oil and gas transportation engineering business in Iraq and the Middle East [1] - The project is currently in the bidding stage and there is uncertainty regarding the signing of a formal contract [1]

Core Viewpoint - China National Petroleum Engineering Company (CNOOC) has received a project award letter from Iraq's Basra Oil Company for the seawater pipeline project in Basra Province, with a contract value of $2.524 billion (approximately 18.032 billion RMB) [1] Summary by Relevant Sections - **Project Scope**: The project includes the construction of seawater treatment facilities, main pipelines from these facilities to various junction stations, branch pipelines from junction stations to oil field distribution stations, and associated ground facilities [1] - **Contract Duration**: The contract period is set for 54 months, which includes 42 months for design, procurement, construction, and commissioning, followed by 12 months for operation maintenance and training [1] - **Financial Impact**: The project is expected to have a positive impact on the company's operating revenue and total profit over the next 4-5 years [1]

Market Overview - The oil service engineering sector experienced a decline of 2.09% on July 31, with Tongyuan Petroleum leading the drop [1] - The Shanghai Composite Index closed at 3573.21, down 1.18%, while the Shenzhen Component Index closed at 11009.77, down 1.73% [1] Individual Stock Performance - Notable declines in individual stocks include: - Beiken Energy (002828) down 3.98% to 10.13 [1] - PetroChina Engineering (600339) down 2.56% to 3.43 [1] - Sinopec Oilfield Service (600871) down 1.96% to 2.00 [1] - The trading volume and turnover for these stocks indicate significant market activity, with Beiken Energy having a turnover of 2.82 billion [1] Capital Flow Analysis - The oil service engineering sector saw a net outflow of 149 million from institutional investors, while retail investors contributed a net inflow of 93.17 million [2] - The capital flow for individual stocks shows: - Haiyou Engineering (600583) with a net inflow of 17.39 million from institutional investors [3] - Zhongyou Engineering (600339) with a net inflow of 15.79 million from institutional investors [3] - Beiken Energy (002828) faced a net outflow of 16.96 million from institutional investors [3]

证券代码：600339 证券简称：中油工程 公告编号：临 2025-034 中国石油集团工程股份有限公司 关于 2025 年 6 月份担保发生情况的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 1 1.董事长审批：（1）同一担保人在被担保基础业务计划内的所属分、子公司授信、履约 担保额度的调剂事项。（2）公司及子公司与金融机构签订担保类授信协议以及单笔担保金额 小于20亿元人民币或等值外币的除授信担保以外的对外担保事项。 2.董事会审批：（1）同一担保人在被担保基础业务计划外的所属分、子公司授信及履约 担保项目的调剂事项。（2）单笔担保金额大于等于20亿元人民币或等值外币的除授信担保以 外的对外担保事项。 以上担保预计情况详见公司分别于2024年12月14日和2024年12月31日在上海证券交易所 网站发布的《关于公司2025年度担保预计情况的公告》（公告编号：临2024-070）和《2024 年 第四次临时股东大会决议公告》（公告编号：临2024-075）。 中国石油集团工程股份有限公司（以下简 ...

Core Viewpoint - Despite recent fluctuations in international oil prices, the overall trend remains at a medium to high level, encouraging continued investment from oil extraction companies [1] Group 1: Oil and Gas Industry Investment - The oil service industry is benefiting from the sustained investment enthusiasm in upstream oil and gas due to strong crude oil prices [1] - Major oil-producing countries are increasing resource development efforts, with OPEC and non-OPEC countries planning to raise production by 548,000 barrels per day starting August [2] - Global upstream capital expenditure is expected to recover and exceed $582.4 billion by 2025, reflecting a 5% year-on-year growth [2] Group 2: Oil Service Companies' Opportunities - Oil service companies are experiencing increased demand for equipment and services, particularly in overseas markets, driven by positive investment expectations in upstream oil and gas [3] - Jerry Engineering received a contract worth approximately $8.5 billion from Algeria's national oil company for a gas booster station project [3] - China National Petroleum Engineering signed a contract worth $1.6 billion with TotalEnergies for a gas processing plant project in Iraq [3] Group 3: New Contracts and Market Expansion - Bomaike successfully entered the Suriname market with a contract valued between 750 million to 1 billion yuan for the construction of an FPSO upper module [4]

Group 1 - China Petroleum Engineering Co., Ltd. has experienced a decline for five consecutive trading days, with a cumulative drop of -2.94% [1] - Southern Fund's Southern CSI 500 ETF is among the top ten shareholders of China Petroleum Engineering and has reduced its holdings in the first quarter of this year [1] - The Southern CSI 500 ETF has achieved a year-to-date return of 6.25%, ranking 1400 out of 3424 in its category [1][2] Group 2 - The fund manager of Southern CSI 500 ETF is Luo Wenjie, who holds a master's degree in Mathematical Finance from the University of Southern California and a master's in Computer Science from the University of California [3][4] - Luo Wenjie has extensive experience in quantitative analysis and has held various managerial positions within Southern Fund since joining in September 2008 [3][4] - Southern Fund Management Co., Ltd. was established in March 1998 and has four major shareholders, with Huatai Securities holding 45% [4]

Group 1: Core Insights - A-share companies are experiencing significant overseas expansion, with notable achievements in infrastructure, biomedicine, and equipment manufacturing, leading to large overseas orders [2][3] - The shift in Chinese enterprises' overseas strategy is moving from cost-driven to innovation-driven, leveraging advanced supply chains, international talent, and digital technologies [2] Group 2: Large Orders and Competitive Strength - A-share companies have secured substantial overseas contracts, particularly in the infrastructure sector, with notable projects including a $1.6 billion contract for a gas processing plant in Iraq and contracts totaling approximately 5.34 billion yuan for the China-Kyrgyzstan-Uzbekistan railway [3][4] - In the biomedicine sector, companies like Rongchang Bio are accelerating internationalization, exemplified by a licensing agreement with Vor Bio worth up to $4.1 billion [4] - Equipment manufacturing firms are also making strides, with agreements such as a $406 million contract for a conveyor system in Guinea, enhancing their international market presence [4] Group 3: Accelerated Overseas Capacity Layout - Several A-share companies are intensifying their overseas production capacity, viewing local production as a key driver for global competitiveness [6] - Companies like Linglong Tire are investing $1.193 billion in a production base in Brazil, aiming for an annual output of 14.7 million high-performance tires [6] - Other firms, such as North Special Technology and Zhongke Electric, are also establishing production bases in Thailand and Oman, respectively, to enhance their global supply chain [7] Group 4: Rising Trend of Overseas Mergers and Acquisitions - The number of disclosed overseas mergers and acquisitions by A-share companies has surpassed 60 in the first half of the year, with a focus on electronics, automotive parts, and machinery [9] - Companies are pursuing overseas acquisitions to enter emerging markets and enhance their technological capabilities, as seen with Dongshan Precision's dual acquisitions in the optical communication sector [9][10] - The strategy of overseas mergers and acquisitions is aimed at resource and market integration, with firms like Luoyang Molybdenum consolidating their overseas mineral resource reserves [10]