China Petroleum Engineering Corporation (CPEC), the engineering arm of China National Petroleum Corporation, has won a $2.5 billion deal to construct a seawater pipeline in Iraq.
According to Yicai Global, the English-language outlet of Shanghai-based financial media Yicai, Basra Oil Company (BOC) awarded the project to Pipeline Engineering, a CPEC subsidiary.
The scope includes building the main pipeline from seawater treatment facilities to multiple connection stations, installing branch lines to oilfield distribution points, and developing related onshore infrastructure. The work is expected to take around 54 months to complete.
CPEC noted that the contract has not yet been formally signed, so the start of execution remains uncertain. If the agreement is finalized and successfully delivered, the project is expected to significantly boost the company’s revenue over the next four to five years.
In recent years, CPEC has been focusing on high-value projects, partnering with both multinational and national energy companies as well as global construction firms. In the last few months, its affiliates have secured two contracts with TotalEnergies worth $1.6 billion and $294 million, respectively.
Source: Iraqi News