Shang Hai Zheng Quan Bao·2025-09-25 20:46Core Viewpoint - The company has signed an EPC contract worth $2.524 billion with the Iraq Basra Oil Company for the seawater pipeline project in Basra, Iraq, which is expected to positively impact the company's revenue and profit over the next 4-5 years [2][3][11]. Group 1: Contract Details - Contract Type and Amount: The contract is an EPC contract valued at $2.524 billion (approximately 18.032 billion RMB) [2][5]. - Contract Duration: The project contract period is 54 months, consisting of 42 months for design, procurement, construction, and trial operation, followed by 12 months for operation maintenance and training [3][8]. - Payment Terms: Payments will be made based on progress [6]. Group 2: Project Scope and Impact - Project Scope: The project involves the construction of seawater treatment facilities, main pipelines, and associated ground facilities in Basra, Iraq [3][11]. - Impact on Company: Successful implementation of the project will strengthen the company's position in the oil and gas transportation market in Iraq and the Middle East, contributing positively to revenue and profit over the next 4-5 years [11]. Group 3: Counterparty Information - Counterparty Overview: The Basra Oil Company is a publicly listed company established under Iraqi law, primarily engaged in oil and gas exploration, development, production, processing, storage, transportation, and export [4].