Core Viewpoint - The company reported a decline in third-quarter revenue and net profit, but overall performance for the first three quarters shows a slight increase in revenue and net profit compared to the previous year [1][2]. Financial Performance - In Q3, the company's revenue was 11.35 billion, a decrease of 6% year-on-year; net profit attributable to shareholders was 1.023 billion, down 4.5% year-on-year [1]. - For the first three quarters, total revenue reached 33.947 billion, an increase of 0.81% year-on-year, marking five consecutive years of revenue growth [1]. - Net profit for the first three quarters was 2.853 billion, up 6.11% year-on-year, also achieving five consecutive years of profit growth [1]. - Operating cash flow showed a net inflow of 331 million, a significant decrease of 80.03% year-on-year [1]. Cash Flow Analysis - The company reported a positive net cash flow from operating activities year-to-date, although it decreased year-on-year due to some businesses still in the settlement period [2]. - Cash inflow from operating activities increased by 785 million year-on-year, primarily due to a rise in cash received from sales of goods and services [2]. - Cash outflow from operating activities increased by 2.113 billion year-on-year, mainly due to higher payments for goods and services, taxes, and employee-related expenses [2]. Strategic Focus - The company emphasizes a development strategy focused on core business and international expansion, enhancing its capabilities in international business development and project execution [3]. - The company is actively involved in offshore wind power development and has launched two wind power operation and maintenance vessels this year [2]. - The company has integrated service qualifications and experience in offshore wind power, with capabilities in design, installation, and operation [2]. - The company is also engaged in solar energy projects and carbon capture, utilization, and storage (CCUS) initiatives [2]. International Expansion - The company is committed to internationalization, with operations spread across the Middle East, Africa, North America, and Asia-Pacific [3]. - Key services include oilfield operation and maintenance, downhole technology, QHSE consulting, and IT operations, along with the sale of various oilfield chemicals and tools [3]. - Future plans include enhancing project management, regional coordination, market development capabilities, and contract execution abilities [3].

（文章来源：证券日报） 证券日报网讯 10月21日晚间，海油发展发布2025年第三季度报告称，2025年前三季度公司实现营业收 入33，946，574，198.80元，同比增长0.81%；归属于上市公司股东的净利润为2，852，668，244.89 元，同比增长6.11%。 ...

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 project award notification from Sonatrach, the Algerian national oil company, for early production measures and gas compression services in an oil and gas field [1] Group 1: Project Details - The total contract value is composed of two parts: USD 105 million and 2.763 billion Algerian Dinars [1] - The contract duration is set for four years [1] - The project will be implemented in Algeria and involves oil and gas recovery and processing, aligning with the company's domestic business in wellhead gas recovery [1]

Core Viewpoint - Tongyuan Petroleum (300164.SZ) has received a project award notification from Sonatrach, the Algerian national oil company, for early production measures and gas compressor services in an oil and gas field [1] Group 1: Project Details - The total contract value is composed of two parts: USD 105 million and 2.763 billion Algerian Dinars [1] - The contract duration is set for four years [1] - The project will be implemented in Algeria and involves oil and gas recovery and processing, aligning with the company's domestic business in wellhead gas recovery [1]

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]

Core Viewpoint - WaterBridge Infrastructure (WBI.US) successfully launched its IPO on the US stock market, with an opening price exceeding 18% at $23.655, compared to the IPO price of $20 [1] Company Overview - WaterBridge is the largest operator of produced water infrastructure networks in the United States, boasting approximately 2,500 miles of pipelines and 196 produced water treatment facilities [1] - The company has a daily produced water treatment capacity exceeding 2.6 million barrels, with a total processing capacity of over 4.5 million barrels [1] Clientele - WaterBridge serves notable clients in the oil and gas sector, including Permian Resources (PR.US), Devon Energy (DVN.US), EOG Resources (EOG.US), and Chevron (CVX.US) [1]

Core Viewpoint - WaterBridge Infrastructure (WBI.US) has successfully launched on the US stock market, with an opening stock price exceeding 18% at $23.655, compared to its IPO price of $20 [1] Company Overview - WaterBridge is the largest operator of produced water infrastructure networks in the United States, boasting approximately 2,500 miles of pipelines and 196 produced water treatment facilities [1] - The company has a daily produced water treatment capacity exceeding 2.6 million barrels, with a total processing capacity of over 4.5 million barrels [1] Clientele - WaterBridge's clients include prominent companies such as Permian Resources (PR.US), Devon Energy (DVN.US), EOG Resources (EOG.US), and Chevron (CVX.US) [1]

Core Insights - Schlumberger's new land services headquarters in Chengdu marks a significant step in the company's strategic expansion in China, supporting the development of an energy equipment industry cluster in Shuangliu [1][5] - The new facility is expected to enhance the technological capabilities in high-end oil and gas and digital exploration in the Southwest region, accelerating the industry's transition towards high-end, intelligent, and green solutions [1][5] Group 1 - Schlumberger has been operating in Chengdu for over 20 years, with its local base established in 2002, and has developed into a key entity in the North Asia region [3] - The investment agreement signed in 2022 involved a capital injection of 700 million yuan for the construction of the headquarters, settlement center, and equipment maintenance base, covering an area of 42 acres with a total building area exceeding 20,000 square meters [5] - The new base is four times larger than the previous one and is equipped with advanced infrastructure and core functions such as technical research, equipment maintenance, and remote support, significantly improving operational efficiency and service capabilities [5][7] Group 2 - Shuangliu District is focused on creating an "open airport," "industrial airport," "innovation airport," "quality airport," and "happy airport," aiming to enhance the business environment and support the development of enterprises like Schlumberger [5][7] - The district plans to continue providing comprehensive quality services and strengthen policy measures, resource guarantees, and innovation support to boost Schlumberger's production and efficiency [7]

今日（15日），红星新闻记者从双流区获悉，斯伦贝谢中国陆地服务总部落成仪式在双流举行。斯伦贝谢中国陆地服务总部的落成，标志着斯 伦贝谢在中国战略布局的持续深化，也为双流打造能源装备产业集群提供了重要支撑。据介绍，跟之前相比，斯伦贝谢新基地规模比原基地扩 大了4倍。该总部的投运将进一步提升西南地区在高端油气与数字勘探等领域的技术水平，推动产业链向高端化、智能化、绿色化加速转型。 ▲落成仪式 斯伦贝谢北亚区董事总经理柯宁表示，新基地的建成是斯伦贝谢深耕中国市场、支持四川省能源产业发展的重要里程碑，得益于这里优越的营商环境，也 将为企业参与保障国家能源安全、助力"双碳"目标实现提供坚实有力的支持。"跟之前相比，我们新基地规模比原基地扩大4倍，基地配备先进的基础设施 与舒适的工作环境以及技术研究、设备维护、作业管理和远程支持等核心功能，可显著提升运营效率和服务能力，更好满足客户的需求。" 作为全球能源行业的领军者，斯伦贝谢自1926年创立以来，始终致力于为客户提供先进的技术、卓越的解决方案，和高质量的服务，业务遍布全球100余 个国家和地区。 斯伦贝谢与成都的结缘可追溯至2002年成都基地的成立，至今已扎根发展20余 ...