Core Insights - The project aims to enhance oil and gas output and processing efficiency in Algeria, ensuring national energy needs and export demands are met [1] - Sonatrach, Algeria's state-owned oil company, is a significant player in the oil and gas sector, ranking as Africa's largest oil producer and the world's 12th largest oil company [1] - The partnership with Sonatrach has been deepening over the past four years, with increasing revenue from operations [1] Group 1 - The project is located in Sonatrach's oil and gas fields, focusing on civil engineering for oil and gas station construction, recovery, processing, and equipment installation [1] - Sonatrach has a strong financial position and credit rating, with good performance capabilities, making it a reliable partner [1] - Algeria is the largest natural gas producer in Africa and the second-largest oil producer, with significant proven reserves [1] Group 2 - The recent project win aligns with the company's domestic gas recovery business, showcasing its expertise in surface construction and gas processing [2] - Since starting the gas recovery business in 2021, the company has processed a significant volume of natural gas and condensate, demonstrating its technical capabilities [2] - This project win is seen as a major breakthrough for the company's international strategy, leveraging its decade-long experience in Algeria to expand its business [2]

Core Viewpoint - The company Tongyuan Petroleum has received a bid notification from Sonatrach SPA for an early production measures and natural gas compression service project, marking a significant breakthrough in its overseas strategy [1] Group 1: Project Details - The total bid amount is approximately $126 million, which includes $105 million and 2.763 billion Algerian Dinars, equivalent to about 897 million RMB [1] - The contract duration is four years, aimed at enhancing oil and gas output and processing efficiency to meet national usage and export demands [1] Group 2: Project Scope - The project encompasses civil engineering, oil and gas recovery and processing, installation and commissioning of booster equipment units, as well as operation and maintenance services [1] Group 3: Strategic Implications - This successful bid lays a solid foundation for the company to secure more orders in the future, indicating a positive trajectory for its international expansion efforts [1]