CPEC(SH:600339) Zheng Quan Ri Bao·2025-09-25 13:09Core Points - China Petroleum Engineering announced the signing of an EPC contract with Iraq's Basra Oil Company for a seawater pipeline project in Basra Province, with a contract value of $2.524 billion (approximately 18.032 billion RMB at the exchange rate on the project award date) [2] Company Summary - The contract is awarded to China Petroleum Pipeline Engineering Company, a wholly-owned subsidiary of China Petroleum Engineering [2] - The project signifies a strategic move for the company in expanding its international operations, particularly in the Middle East region [2] Industry Summary - The signing of the contract reflects ongoing investment and development in Iraq's oil infrastructure, indicating potential growth opportunities in the region [2] - The project aligns with the broader trend of increasing demand for oil and gas infrastructure in emerging markets [2]